According to Zacks, “Trex Company, Inc. is a manufacturer of non-wood decking alternative products, which are marketed under the brand name Trex. Trex Wood-Polymer(TM) lumber is a wood/plastic composite that offers an attractive appearance and the workability of wood without wood’s on-going maintenance requirements and functional disadvantages. Trex is manufactured in a proprietary process that combines waste wood fibers and reclaimed polyethylene and is used primarily for residential and commercial decking. They promote Trex among consumers and contractors as a premium decking product. “
A number of other research analysts have also recently commented on TREX. FBR & Co raised their price target on Trex from $50.00 to $60.00 and gave the stock an outperform rating in a research report on Tuesday, August 2nd. CL King cut Trex from a buy rating to a neutral rating in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Finally, Wedbush cut Trex from an outperform rating to a neutral rating and raised their price target for the stock from $50.00 to $53.00 in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $59.33.
Trex (NYSE:TREX) opened at 59.20 on Thursday. Trex has a 52-week low of $31.11 and a 52-week high of $64.36. The firm has a market capitalization of $1.73 billion, a P/E ratio of 30.87 and a beta of 2.02. The firm’s 50-day moving average is $59.69 and its 200-day moving average is $50.83.
Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.08. Trex had a return on equity of 61.76% and a net margin of 12.68%. The company had revenue of $146.45 million for the quarter, compared to analysts’ expectations of $145.19 million. During the same quarter last year, the business earned $0.58 earnings per share. Trex’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Trex will post $2.31 earnings per share for the current year.
In other news, Director Patricia B. Robinson sold 10,836 shares of Trex stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $59.83, for a total transaction of $648,317.88. Following the sale, the director now directly owns 22,390 shares of the company’s stock, valued at $1,339,593.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adam Dante Zambanini sold 5,730 shares of Trex stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $61.61, for a total value of $353,025.30. Following the sale, the vice president now directly owns 34,396 shares in the company, valued at $2,119,137.56. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its stake in shares of Trex by 13,816.3% in the first quarter. Barclays PLC now owns 13,638 shares of the company’s stock worth $640,000 after buying an additional 13,540 shares during the last quarter. Riverhead Capital Management LLC bought a new position in Trex during the first quarter worth approximately $188,000. Uniplan Investment Counsel Inc. raised its position in Trex by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 127,215 shares of the company’s stock worth $6,097,000 after buying an additional 424 shares in the last quarter. Quadrature Capital Ltd bought a new position in Trex during the first quarter worth approximately $1,705,000. Finally, UBS Group AG raised its position in Trex by 1,671.2% in the first quarter. UBS Group AG now owns 23,026 shares of the company’s stock worth $1,103,000 after buying an additional 21,726 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.
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