Trex (TREX) Stock Rating Upgraded by Sidoti

Trex (NYSE:TREX) was upgraded by investment analysts at Sidoti from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

Separately, SunTrust Banks dropped their price objective on shares of Trex to $58.00 and set a “hold” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $36.35.

Shares of Trex stock opened at $61.30 on Tuesday. Trex has a 12-month low of $48.06 and a 12-month high of $90.74. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 38.80 and a beta of 2.39.



Trex (NYSE:TREX) last issued its earnings results on Monday, October 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. Trex had a net margin of 19.16% and a return on equity of 49.41%. The company had revenue of $166.38 million during the quarter, compared to analysts’ expectations of $173.10 million. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Trex will post 2.29 EPS for the current year.

In related news, Director Frank H. Merlotti, Jr. sold 3,051 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $77.39, for a total transaction of $236,116.89. Following the sale, the director now owns 24,242 shares in the company, valued at $1,876,088.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Paul Gerhard sold 2,990 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $83.58, for a total transaction of $249,904.20. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in TREX. BlackRock Inc. boosted its position in Trex by 111.2% during the second quarter. BlackRock Inc. now owns 8,768,747 shares of the construction company’s stock worth $548,836,000 after acquiring an additional 4,616,478 shares during the last quarter. Wasatch Advisors Inc. boosted its position in Trex by 114.1% during the second quarter. Wasatch Advisors Inc. now owns 1,819,058 shares of the construction company’s stock worth $113,855,000 after acquiring an additional 969,587 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Trex by 95.1% during the second quarter. Eagle Asset Management Inc. now owns 1,903,782 shares of the construction company’s stock worth $119,157,000 after acquiring an additional 928,019 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in Trex by 113.0% during the second quarter. Conestoga Capital Advisors LLC now owns 1,385,177 shares of the construction company’s stock worth $86,698,000 after acquiring an additional 734,753 shares during the last quarter. Finally, Carillon Tower Advisers Inc. boosted its position in Trex by 106.0% during the second quarter. Carillon Tower Advisers Inc. now owns 1,311,900 shares of the construction company’s stock worth $82,111,000 after acquiring an additional 674,991 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Trex

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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