Trex (TREX) Upgraded to Buy by Sidoti

Sidoti upgraded shares of Trex (NYSE:TREX) from a neutral rating to a buy rating in a research report released on Friday, March 29th, Briefing.com Automated Import reports. The brokerage currently has $80.00 price target on the construction company’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Trex from a hold rating to a sell rating in a report on Tuesday, January 1st. ValuEngine upgraded shares of Trex from a sell rating to a hold rating in a report on Wednesday, January 2nd. Jefferies Financial Group initiated coverage on shares of Trex in a report on Wednesday, January 9th. They set a hold rating and a $60.00 price target for the company. B. Riley restated a buy rating and issued a $80.00 target price (up from $71.00) on shares of Trex in a report on Friday, February 15th. Finally, Berenberg Bank restated a buy rating and issued a $89.00 target price on shares of Trex in a report on Wednesday, February 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Trex currently has an average rating of Buy and an average price target of $75.50.

Shares of TREX stock traded down $0.23 during mid-day trading on Friday, hitting $76.33. The stock had a trading volume of 459,740 shares, compared to its average volume of 1,531,470. Trex has a fifty-two week low of $50.88 and a fifty-two week high of $90.74. The stock has a market capitalization of $4.49 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 3.76 and a beta of 1.96.

Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, February 14th. The construction company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. Trex had a net margin of 19.67% and a return on equity of 45.17%. The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $131.40 million. During the same quarter last year, the business earned $0.56 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts forecast that Trex will post 2.54 earnings per share for the current year.

In other news, insider James E. Cline sold 13,495 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $77.95, for a total transaction of $1,051,935.25. Following the transaction, the insider now directly owns 82,391 shares of the company’s stock, valued at $6,422,378.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William R. Gupp sold 4,306 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $76.74, for a total transaction of $330,442.44. Following the transaction, the senior vice president now directly owns 68,486 shares in the company, valued at $5,255,615.64. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. increased its stake in Trex by 0.9% during the fourth quarter. Brown Advisory Inc. now owns 15,039 shares of the construction company’s stock valued at $893,000 after purchasing an additional 129 shares during the last quarter. FMR LLC increased its stake in Trex by 27.9% during the fourth quarter. FMR LLC now owns 632 shares of the construction company’s stock valued at $38,000 after purchasing an additional 138 shares during the last quarter. Curbstone Financial Management Corp increased its stake in Trex by 1.0% during the first quarter. Curbstone Financial Management Corp now owns 15,440 shares of the construction company’s stock valued at $950,000 after purchasing an additional 150 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Trex by 5.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,936 shares of the construction company’s stock valued at $234,000 after purchasing an additional 195 shares during the last quarter. Finally, Clearbridge LLC increased its stake in Trex by 10.4% during the fourth quarter. Clearbridge LLC now owns 2,114 shares of the construction company’s stock valued at $125,000 after purchasing an additional 200 shares during the last quarter. 94.24% of the stock is currently owned by hedge funds and other institutional investors.

Trex Company Profile

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

Featured Article: Dividend

Analyst Recommendations for Trex (NYSE:TREX)

Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.