Trex (NYSE:TREX) Upgraded at StockNews.com

Trex (NYSE:TREX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Other analysts have also issued research reports about the company. BMO Capital Markets upped their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Robert W. Baird increased their price objective on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barclays decreased their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group reduced their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Citigroup lowered their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.38.

Trex Price Performance

NYSE TREX traded up $0.66 during trading hours on Tuesday, hitting $62.33. The company’s stock had a trading volume of 3,851,410 shares, compared to its average volume of 1,332,525. The company’s 50 day simple moving average is $69.54 and its two-hundred day simple moving average is $68.74. The company has a market cap of $6.68 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex has a 12 month low of $58.68 and a 12 month high of $101.91.

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

Institutional Trading of Trex

Several hedge funds have recently bought and sold shares of TREX. Alliancebernstein L.P. increased its holdings in shares of Trex by 54.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. Wasatch Advisors LP grew its holdings in Trex by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock valued at $317,505,000 after buying an additional 523,113 shares in the last quarter. State Street Corp raised its holdings in shares of Trex by 1.2% during the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock valued at $216,400,000 after acquiring an additional 2,578,734 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings in shares of Trex by 6.2% in the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock valued at $148,631,000 after purchasing an additional 126,441 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Company Profile

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.