Trex (NYSE:TREX) Lifted to “Neutral” at Exane BNP Paribas

Exane BNP Paribas upgraded shares of Trex (NYSE:TREX – Get Rating) from an underperform rating to a neutral rating in a research note released on Friday morning, The Fly reports.

Other research analysts have also recently issued research reports about the company. StockNews.com began coverage on Trex in a research report on Thursday, March 31st. They issued a hold rating for the company. Credit Suisse Group raised Trex from an underperform rating to a neutral rating and set a $65.00 price target on the stock in a research note on Tuesday, May 10th. Zacks Investment Research lowered Trex from a hold rating to a sell rating in a research note on Tuesday, May 10th. Berenberg Bank restated a buy rating and issued a $102.00 price objective on shares of Trex in a report on Friday, March 18th. Finally, Stifel Nicolaus cut their price objective on Trex from $135.00 to $120.00 and set a buy rating on the stock in a report on Tuesday, March 1st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $91.39.

Shares of Trex stock opened at $61.38 on Friday. Trex has a one year low of $51.76 and a one year high of $140.98. The company has a market cap of $6.95 billion, a PE ratio of 30.54, a P/E/G ratio of 1.40 and a beta of 1.44. The business has a 50-day simple moving average of $64.39 and a 200-day simple moving average of $94.09.

Trex (NYSE:TREX – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $339.23 million during the quarter, compared to the consensus estimate of $326.67 million. Trex had a return on equity of 38.31% and a net margin of 17.90%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. On average, analysts forecast that Trex will post 2.49 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its position in Trex by 178.8% in the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after purchasing an additional 245 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Trex in the fourth quarter worth about $26,000. UMB Bank N A MO purchased a new position in shares of Trex during the fourth quarter valued at approximately $32,000. M&R Capital Management Inc. purchased a new stake in Trex during the fourth quarter valued at approximately $41,000. Finally, Tobam purchased a new stake in Trex during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Trex Company Profile (Get Rating)

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.

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