Trex (NYSE:TREX) Upgraded to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Trex (NYSE:TREX) from a market perform rating to an outperform rating in a research report released on Thursday,Benzinga reports. They currently have $72.00 target price on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. DA Davidson reiterated a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Barclays lowered their price target on Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Truist Financial reduced their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, UBS Group lowered their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus target price of $77.18.

Trex Stock Up 4.2 %

Shares of NYSE TREX opened at $55.65 on Thursday. The stock has a market capitalization of $5.97 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.51 and a beta of 1.62. The firm’s 50-day moving average price is $59.31 and its two-hundred day moving average price is $66.67. Trex has a 52-week low of $49.01 and a 52-week high of $94.00.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. As a group, equities research analysts expect that Trex will post 2.04 earnings per share for the current year.

Insider Activity

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

A number of large investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC grew its position in Trex by 1.8% during the first quarter. Conestoga Capital Advisors LLC now owns 2,002,468 shares of the construction company’s stock valued at $116,343,000 after purchasing an additional 34,720 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Trex by 26.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company’s stock valued at $4,125,000 after acquiring an additional 14,670 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Trex by 494.7% in the first quarter. SG Americas Securities LLC now owns 36,495 shares of the construction company’s stock worth $2,120,000 after acquiring an additional 30,358 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Trex by 137.7% during the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock worth $97,000 after acquiring an additional 965 shares in the last quarter. Finally, Bennett Selby Investments LP boosted its position in Trex by 16.5% during the first quarter. Bennett Selby Investments LP now owns 60,953 shares of the construction company’s stock valued at $3,541,000 after purchasing an additional 8,654 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, 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.