Trex (NYSE:TREX) Rating Increased to Outperform at BMO Capital Markets

Trex (NYSE:TREX - Get Free Report) was upgraded by equities researchers at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $72.00 price target on the construction company's stock. BMO Capital Markets' price objective suggests a potential upside of 30.30% from the company's previous close.

Other analysts also recently issued reports about the company. Jefferies Financial Group reduced their target price on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price target on the stock. StockNews.com downgraded Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Bank of America cut their price objective on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Citigroup lowered their price target on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $77.18.

Trex Trading Up 3.0 %

TREX traded up $1.60 during trading on Thursday, reaching $55.26. 1,230,651 shares of the company's stock were exchanged, compared to its average volume of 1,309,497. The stock has a market capitalization of $5.92 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. The firm has a fifty day moving average price of $58.48 and a two-hundred day moving average price of $66.41. Trex has a one year low of $49.01 and a one year high of $94.00.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating 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 company had revenue of $167.63 million during the quarter, compared to analysts' expectations of $160.54 million. Sell-side analysts expect that Trex will post 2.04 earnings per share for the current year.

Insider Activity at Trex

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 value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. grew its stake in shares of Trex by 54.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after acquiring an additional 3,818,025 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 buying an additional 2,578,734 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Trex in the fourth quarter worth $110,414,000. Anomaly Capital Management LP boosted its stake in Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock valued at $104,427,000 after acquiring an additional 1,051,888 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Trex by 86.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock valued at $140,064,000 after purchasing an additional 939,960 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.