Trex (TREX) Lifted to “Buy” at Sidoti

Sidoti upgraded shares of Trex (NYSE:TREX) from a neutral rating to a buy rating in a research report report published on Tuesday, October 30th, Marketbeat reports.

Separately, SunTrust Banks decreased their target price on shares of Trex to $58.00 and set a hold rating for the company in a research report on Tuesday, October 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $36.35.

TREX stock traded up $1.36 during midday trading on Tuesday, hitting $59.81. The stock had a trading volume of 390,698 shares, compared to its average volume of 848,344. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 37.85 and a beta of 2.25. Trex has a 1-year low of $50.72 and a 1-year high of $90.74.

Trex (NYSE:TREX) last released its earnings results on Monday, October 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Trex had a net margin of 19.16% and a return on equity of 46.55%. The business had revenue of $166.38 million for the quarter, compared to analyst estimates of $173.10 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. Trex’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities analysts anticipate that Trex will post 2.29 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in shares of Trex by 2.0% in the 1st quarter. Wells Fargo & Company MN now owns 35,699 shares of the construction company’s stock worth $3,883,000 after acquiring an additional 703 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Trex by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 5,459 shares of the construction company’s stock worth $594,000 after purchasing an additional 543 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Trex by 90.6% in the 1st quarter. Sei Investments Co. now owns 2,390 shares of the construction company’s stock worth $260,000 after purchasing an additional 1,136 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Trex by 711.0% in the 1st quarter. Millennium Management LLC now owns 135,869 shares of the construction company’s stock worth $14,778,000 after purchasing an additional 119,115 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Trex by 2.1% in the 1st quarter. Legal & General Group Plc now owns 60,883 shares of the construction company’s stock worth $6,572,000 after purchasing an additional 1,242 shares during the last quarter. 88.28% of the stock is owned by institutional investors and hedge funds.

Trex Company Profile

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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