Trex (NYSE:TREX) Price Target Raised to $70.00

Trex (NYSE:TREX) had its price target hoisted by SunTrust Banks to $70.00 in a research report released on Tuesday, The Fly reports. SunTrust Banks currently has a hold rating on the construction company’s stock. SunTrust Banks also issued estimates for Trex’s Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.49 EPS, FY2019 earnings at $2.31 EPS, Q1 2020 earnings at $0.73 EPS, Q3 2020 earnings at $0.65 EPS, Q4 2020 earnings at $0.53 EPS and FY2020 earnings at $2.77 EPS.

A number of other equities analysts also recently commented on TREX. B. Riley downgraded shares of Trex from a buy rating to a neutral rating and reduced their price objective for the stock from $80.00 to $72.00 in a report on Tuesday, April 30th. DA Davidson assumed coverage on shares of Trex in a report on Friday, April 5th. They set a buy rating and a $80.00 price objective for the company. Berenberg Bank reaffirmed a buy rating and set a $80.00 price objective on shares of Trex in a report on Tuesday. Finally, Zacks Investment Research downgraded shares of Trex from a buy rating to a hold rating in a report on Saturday, July 27th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $77.33.

NYSE:TREX opened at $77.77 on Tuesday. The stock’s 50-day simple moving average is $71.05. The company has a market cap of $4.73 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 3.42 and a beta of 2.12. Trex has a 52 week low of $50.88 and a 52 week high of $90.74. The company has a quick ratio of 2.26, a current ratio of 3.51 and a debt-to-equity ratio of 0.09.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, July 29th. The construction company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. The company had revenue of $206.45 million during the quarter, compared to the consensus estimate of $201.70 million. Trex had a net margin of 17.61% and a return on equity of 35.94%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. As a group, equities research analysts predict that Trex will post 2.39 earnings per share for the current fiscal year.

In other Trex news, VP Jay T. Scripter sold 23,762 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $69.19, for a total value of $1,644,092.78. Following the completion of the sale, the vice president now owns 573 shares in the company, valued at approximately $39,645.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jay T. Scripter sold 25,758 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $69.15, for a total transaction of $1,781,165.70. Following the completion of the sale, the vice president now owns 573 shares of the company’s stock, valued at approximately $39,622.95. The disclosure for this sale can be found here. Insiders have sold a total of 74,418 shares of company stock valued at $5,450,317 over the last three months. 0.93% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in Trex by 8.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,539 shares of the construction company’s stock valued at $1,473,000 after acquiring an additional 1,565 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in Trex in the 2nd quarter valued at about $8,699,000. Stephens Investment Management Group LLC increased its position in Trex by 6.9% in the 2nd quarter. Stephens Investment Management Group LLC now owns 369,871 shares of the construction company’s stock valued at $26,520,000 after acquiring an additional 23,811 shares in the last quarter. Stephens Inc. AR increased its position in Trex by 9.0% in the 2nd quarter. Stephens Inc. AR now owns 6,177 shares of the construction company’s stock valued at $443,000 after acquiring an additional 509 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in Trex in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About Trex

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.

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