Trex (NYSE:TREX) Shares Up 3%

Trex Company, Inc. (NYSE:TREXGet Rating)’s stock price rose 3% during trading on Tuesday . The company traded as high as $63.61 and last traded at $63.47. Approximately 3,221 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 1,381,042 shares. The stock had previously closed at $61.60.

TREX has been the topic of a number of research reports. Barclays lowered their price target on shares of Trex from $90.00 to $84.00 in a report on Thursday, March 31st. DA Davidson reaffirmed a “neutral” rating on shares of Trex in a report on Tuesday, March 1st. Robert W. Baird lowered their price target on shares of Trex from $120.00 to $95.00 in a report on Tuesday, March 1st. Stifel Nicolaus lowered their price target on shares of Trex from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, March 1st. Finally, Zelman & Associates initiated coverage on shares of Trex in a report on Monday, March 14th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Trex presently has an average rating of “Hold” and a consensus price target of $102.35.

The stock has a market cap of $7.36 billion, a P/E ratio of 35.00 and a beta of 1.45. The firm’s fifty day moving average price is $75.51 and its two-hundred day moving average price is $101.45.

Trex (NYSE:TREXGet Rating) last released its quarterly earnings results on Monday, February 28th. The construction company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $303.96 million for the quarter, compared to analysts’ expectations of $302.64 million. Trex had a net margin of 17.41% and a return on equity of 36.80%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. As a group, analysts forecast that Trex Company, Inc. will post 2.45 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in TREX. National Asset Management Inc. grew its position in Trex by 3.3% in the third quarter. National Asset Management Inc. now owns 3,118 shares of the construction company’s stock worth $318,000 after acquiring an additional 100 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Trex by 28.8% in the third quarter. Rockefeller Capital Management L.P. now owns 479 shares of the construction company’s stock worth $48,000 after acquiring an additional 107 shares in the last quarter. Cetera Investment Advisers grew its position in Trex by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 4,539 shares of the construction company’s stock worth $613,000 after acquiring an additional 130 shares in the last quarter. Allworth Financial LP grew its position in Trex by 17.0% in the fourth quarter. Allworth Financial LP now owns 936 shares of the construction company’s stock worth $126,000 after acquiring an additional 136 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 16,332 shares of the construction company’s stock worth $2,205,000 after acquiring an additional 140 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

About Trex (NYSE:TREX)

Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for 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 names Trex Transcend, Trex Select, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

Featured Articles

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.