Trex (NYSE:TREX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Trex (NYSE:TREX) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Barclays increased their price objective on shares of Trex from $32.00 to $39.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 25th. Zelman & Associates lowered Trex from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 5th. The Goldman Sachs Group set a $54.00 price target on Trex and gave the company a “buy” rating in a research report on Tuesday, December 16th. Vertical Research downgraded Trex from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a research note on Wednesday, November 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $54.00 price target on shares of Trex in a research report on Thursday, January 8th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.73.

Trex Stock Down 1.7%

NYSE:TREX opened at $40.72 on Friday. The company has a market cap of $4.31 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 9.50 and a beta of 1.58. Trex has a twelve month low of $29.77 and a twelve month high of $68.78. The business has a 50 day moving average price of $40.78 and a two-hundred day moving average price of $45.04.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Trex had a net margin of 16.22% and a return on equity of 20.29%. The business had revenue of $161.13 million for the quarter, compared to analyst estimates of $144.39 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts anticipate that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Trex by 266.0% during the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock worth $253,467,000 after buying an additional 5,251,297 shares during the last quarter. AQR Capital Management LLC grew its stake in Trex by 143.8% in the 4th quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock valued at $136,655,000 after buying an additional 2,297,533 shares during the last quarter. Norges Bank bought a new position in Trex in the 4th quarter valued at about $62,904,000. Freestone Grove Partners LP acquired a new stake in Trex during the fourth quarter worth approximately $53,951,000. Finally, Impax Asset Management Group plc lifted its position in Trex by 93.0% during the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock worth $99,354,000 after acquiring an additional 932,247 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.