Trex (NYSE:TREX) Raised to Buy at DA Davidson

Trex (NYSE:TREX) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $50.00 price target on the construction company’s stock. DA Davidson’s target price would suggest a potential upside of 19.94% from the company’s previous close.

Several other equities research analysts have also weighed in on TREX. UBS Group set a $52.00 price objective on shares of Trex and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Barclays set a $32.00 target price on Trex in a report on Monday, December 8th. Wolfe Research raised Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on Trex from $71.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Citigroup cut their target price on Trex from $52.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.60.

Trex Trading Up 8.2%

Shares of NYSE TREX opened at $41.69 on Monday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.66 and a beta of 1.55. Trex has a twelve month low of $29.77 and a twelve month high of $75.55. The business has a 50 day simple moving average of $34.96 and a 200-day simple moving average of $50.01.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). Trex had a return on equity of 21.90% and a net margin of 16.76%.The business had revenue of $285.35 million during the quarter, compared to analyst estimates of $301.74 million. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. As a group, equities analysts predict that Trex will post 2.04 earnings per share for the current year.

Insider Buying and Selling at Trex

In related news, CFO Prithvi Gandhi acquired 15,000 shares of Trex stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $31.92 per share, with a total value of $478,800.00. Following the completion of the acquisition, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at $978,794.88. This trade represents a 95.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trex

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of Trex by 3.2% in the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after acquiring an additional 177 shares during the period. Goldman Sachs Group Inc. raised its holdings in Trex by 91.3% during the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after purchasing an additional 392,715 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Trex by 107.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 777,189 shares of the construction company’s stock worth $45,155,000 after purchasing an additional 403,203 shares in the last quarter. Voya Investment Management LLC lifted its position in Trex by 24.0% in the first quarter. Voya Investment Management LLC now owns 395,913 shares of the construction company’s stock worth $23,003,000 after purchasing an additional 76,562 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Trex by 28.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock valued at $57,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Company Profile

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.