Trex (NYSE:TREX) Given Buy Rating at DA Davidson

Trex (NYSE:TREX)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research report issued on Friday,Benzinga reports. They presently have a $51.00 price objective on the construction company’s stock. DA Davidson’s price target would indicate a potential upside of 27.88% from the company’s current price.

A number of other analysts also recently weighed in on TREX. Weiss Ratings upgraded Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Citigroup reissued a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Stifel Nicolaus increased their price objective on shares of Trex from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $53.00 in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trex has an average rating of “Hold” and an average target price of $46.42.

Trex Stock Performance

Shares of TREX traded down $0.25 during trading hours on Friday, reaching $39.88. The stock had a trading volume of 264,347 shares, compared to its average volume of 1,946,853. Trex has a 12 month low of $29.77 and a 12 month high of $68.78. The stock has a market capitalization of $4.14 billion, a PE ratio of 22.35, a PEG ratio of 8.22 and a beta of 1.51. The company’s 50-day moving average is $39.32 and its two-hundred day moving average is $38.69.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The business had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. During the same period in the prior year, the business posted $0.60 earnings per share. Trex’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts anticipate that Trex will post 1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

Several hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of Trex by 1.9% during the 3rd quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company’s stock worth $389,795,000 after purchasing an additional 142,215 shares during the last quarter. Wellington Management Group LLP grew its stake in Trex by 266.0% in the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock valued at $253,467,000 after buying an additional 5,251,297 shares in 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 in the last quarter. Morgan Stanley grew its position in shares of Trex by 44.6% during the 4th quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock valued at $81,150,000 after purchasing an additional 713,054 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Trex by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company’s stock valued at $113,233,000 after purchasing an additional 53,554 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

About Trex

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.