Trex’s (TREX) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.
SunTrust Banks, Inc. reiterated their hold rating on shares of Trex Company, Inc. (NYSE:TREX) in a research note released on Wednesday. The brokerage currently has a $95.00 price target on the construction company’s stock.
TREX has been the subject of a number of other reports. Stifel Nicolaus restated a hold rating and set a $75.00 price objective on shares of Trex in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Trex from a strong-buy rating to a hold rating in a research report on Wednesday, October 4th. BidaskClub upgraded Trex from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Sidoti downgraded Trex from a buy rating to a neutral rating and set a $89.00 price objective for the company. in a research report on Monday, October 2nd. Finally, B. Riley raised their price objective on Trex from $80.00 to $96.00 and gave the stock a neutral rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $90.00.
Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The company had revenue of $140.19 million during the quarter, compared to the consensus estimate of $125.30 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue was up 32.0% compared to the same quarter last year.
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In other Trex news, Director Frank H. Merlotti, Jr. sold 2,093 shares of Trex stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $75.71, for a total value of $158,461.03. Following the completion of the sale, the director now directly owns 12,640 shares in the company, valued at $956,974.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Paul Gerhard sold 3,920 shares of Trex stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $79.69, for a total value of $312,384.80. Following the completion of the sale, the vice president now owns 26,560 shares of the company’s stock, valued at $2,116,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,180 shares of company stock valued at $724,206. 0.95% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Trex by 132,134.8% during the first quarter. BlackRock Inc. now owns 3,715,799 shares of the construction company’s stock valued at $257,840,000 after acquiring an additional 3,712,989 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Trex by 6.5% during the first quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock valued at $225,653,000 after acquiring an additional 197,846 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Trex during the second quarter valued at approximately $76,849,000. Wasatch Advisors Inc. increased its holdings in shares of Trex by 9.6% during the second quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock valued at $64,027,000 after acquiring an additional 83,274 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Trex by 4.9% during the second quarter. Eagle Asset Management Inc. now owns 932,946 shares of the construction company’s stock valued at $63,123,000 after acquiring an additional 43,648 shares in the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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