Trex (NYSE:TREX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $96.00 price target on the construction company’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.48% from the company’s previous close.

According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “

Other equities analysts have also issued reports about the stock. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating and set a $84.00 target price for the company. in a report on Tuesday, August 6th. They noted that the move was a valuation call. BNP Paribas started coverage on shares of Trex in a research report on Wednesday, October 9th. They set an “underperform” rating on the stock. Exane BNP Paribas started coverage on shares of Trex in a report on Wednesday, October 9th. They issued an “underperform” rating for the company. ValuEngine downgraded shares of Trex from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, B. Riley increased their target price on shares of Trex from $72.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $85.80.

Shares of TREX stock traded down $0.35 on Tuesday, hitting $84.60. The company had a trading volume of 1,569 shares, compared to its average volume of 412,188. Trex has a twelve month low of $53.48 and a twelve month high of $93.63. The company has a quick ratio of 3.02, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. The firm has a market cap of $5.02 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 3.57 and a beta of 1.90. The company has a 50-day moving average price of $88.26 and a 200-day moving average price of $79.60.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Trex had a return on equity of 35.80% and a net margin of 18.65%. The firm had revenue of $195.00 million for the quarter, compared to analyst estimates of $208.12 million. During the same period last year, the company earned $0.57 earnings per share. Trex’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts expect that Trex will post 2.41 EPS for the current year.

In related news, Director Jay M. Gratz sold 2,792 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.46, for a total transaction of $233,020.32. Following the completion of the transaction, the director now owns 15,651 shares in the company, valued at approximately $1,306,232.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jay M. Gratz sold 2,817 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $86.67, for a total transaction of $244,149.39. Following the transaction, the director now owns 16,515 shares of the company’s stock, valued at approximately $1,431,355.05. The disclosure for this sale can be found here. Insiders have sold a total of 21,388 shares of company stock worth $1,802,560 in the last quarter. Insiders own 0.93% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Trex by 2.9% during the second quarter. BlackRock Inc. now owns 7,343,900 shares of the construction company’s stock worth $526,556,000 after purchasing an additional 205,842 shares during the last quarter. William Blair Investment Management LLC increased its stake in Trex by 28.6% during the second quarter. William Blair Investment Management LLC now owns 3,683,191 shares of the construction company’s stock worth $264,085,000 after acquiring an additional 818,735 shares during the last quarter. Bamco Inc. NY increased its stake in Trex by 38.5% during the second quarter. Bamco Inc. NY now owns 2,733,942 shares of the construction company’s stock worth $196,024,000 after acquiring an additional 760,669 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in Trex by 4.0% in the second quarter. Conestoga Capital Advisors LLC now owns 1,226,675 shares of the construction company’s stock valued at $87,953,000 after purchasing an additional 46,996 shares during the period. Finally, Northern Trust Corp raised its position in Trex by 17.8% in the second quarter. Northern Trust Corp now owns 975,044 shares of the construction company’s stock valued at $69,911,000 after purchasing an additional 147,430 shares during the period. Institutional investors own 96.87% of the company’s stock.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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