Trex (NYSE:TREX – Get a Rating) was raised by Credit Suisse Group equity researchers from an “underperforming” rating to a “neutral” rating in a research note released to investors on Tuesday, reports The Fly.
Several other research companies have also recently weighed in on TREX. Zelman & Associates began covering Trex in a research note on Monday, March 14. They set a “hold” rating for the company. Truist Financial cut its price target on Trex from $120.00 to $90.00 in a research note on Tuesday. DA Davidson reiterated a “neutral” rating on Trex shares in a Tuesday, March 1, research note. B. Riley upgraded Trex from a “neutral” rating to a “buy” rating and set a price target of $88.00 on the stock in a Wednesday, April 6 report. Finally, Zacks Investment Research upgraded Trex from a “hold” rating to a “sell” rating in a report released Tuesday. Five analysts rated the stock with a sell rating, nine gave the company’s stock a hold rating and five gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.17.
NYSE: TREX traded at $2.95 during Tuesday’s trading, hitting $58.63. The company’s shares had a trading volume of 3,683,078 shares, compared to its average volume of 1,406,064. The company has a market capitalization of $6.70 billion, a price-earnings ratio of 32.39 , a growth price-earnings ratio of 1.36 and a beta of 1.44. Trex has a 12-month low of $51.76 and a 12-month high of $140.98. The company has a 50-day moving average of $67.16 and a 200-day moving average of $97.36.
Trex (NYSE:TREX – Get Rating) last released its quarterly results on Monday, May 9. The construction company reported earnings per share of $0.62 for the quarter, beating the consensus estimate of $0.54 by $0.08. The company posted revenue of $339.23 million in the quarter, versus a consensus estimate of $326.67 million. Trex had a return on equity of 36.80% and a net margin of 17.41%. The company’s quarterly revenue increased by 38.2% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $0.42. Stock analysts expect Trex to post earnings per share of 2.44 for the current year.
Hedge funds and other institutional investors have recently changed their positions in the stock. NN Investment Partners Holdings NV bought a new position in shares of Trex during Q4, valued at around $26,000. UMB Bank NA MO bought a new position in shares of Trex during the 4th quarter worth approximately $32,000. M&R Capital Management Inc. bought a new position in shares of Trex during the 4th quarter valued at approximately $41,000. Tobam bought a new position in Trex during Q4 worth around $41,000. Finally, Confluence Wealth Services Inc. bought a new position in Trex during Q4 worth approximately $46,000. 93.63% of the shares are currently held by institutional investors.
Trex Company Profile (Get a rating)
Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the residential and commercial markets in the United States. The Company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.
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