Trex Company Inc (NYSE:TREX) – SunTrust Banks boosted their FY2018 earnings per share estimates for Trex in a report issued on Thursday. SunTrust Banks analyst K. Hughes now expects that the construction company will post earnings of $4.18 per share for the year, up from their prior forecast of $3.66. SunTrust Banks currently has a “Hold” rating and a $95.00 target price on the stock. SunTrust Banks also issued estimates for Trex’s Q4 2018 earnings at $0.84 EPS.
Several other brokerages also recently issued reports on TREX. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Thursday, January 11th. Stifel Nicolaus restated a “hold” rating and set a $110.00 price objective (up previously from $100.00) on shares of Trex in a research report on Thursday, February 22nd. B. Riley increased their price objective on shares of Trex from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, FBR & Co increased their price objective on shares of Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Trex presently has a consensus rating of “Buy” and an average target price of $102.00.
Trex (NYSE:TREX) last issued its earnings results on Wednesday, February 21st. The construction company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. The firm had revenue of $122.21 million for the quarter, compared to the consensus estimate of $118.48 million. Trex had a net margin of 16.83% and a return on equity of 46.94%. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share.
Trex announced that its Board of Directors has initiated a share buyback program on Wednesday, February 21st that permits the company to repurchase 2,900,000 shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Trex news, Director Jay M. Gratz sold 1,058 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $116.95, for a total transaction of $123,733.10. Following the completion of the sale, the director now directly owns 8,801 shares of the company’s stock, valued at $1,029,276.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jay M. Gratz sold 1,418 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $111.05, for a total transaction of $157,468.90. Following the sale, the director now directly owns 8,901 shares of the company’s stock, valued at $988,456.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,018 shares of company stock valued at $3,658,976. 0.95% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Trex by 5.7% during the fourth quarter. BlackRock Inc. now owns 3,974,637 shares of the construction company’s stock valued at $430,812,000 after buying an additional 215,522 shares during the last quarter. Bamco Inc. NY increased its stake in shares of Trex by 4.4% in the third quarter. Bamco Inc. NY now owns 1,185,205 shares of the construction company’s stock worth $106,751,000 after purchasing an additional 49,870 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Trex by 4.5% in the third quarter. Eagle Asset Management Inc. now owns 975,160 shares of the construction company’s stock worth $85,258,000 after purchasing an additional 42,214 shares in the last quarter. State Street Corp increased its stake in shares of Trex by 4.7% in the second quarter. State Street Corp now owns 724,301 shares of the construction company’s stock worth $49,003,000 after purchasing an additional 32,626 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Trex by 13.2% in the fourth quarter. Conestoga Capital Advisors LLC now owns 670,834 shares of the construction company’s stock worth $72,712,000 after purchasing an additional 78,200 shares in the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.
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Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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