Trex (NYSE:TREX)‘s stock had its “hold” rating reaffirmed by research analysts at Stifel Nicolaus in a research report issued on Thursday, MarketBeat reports. They currently have a $110.00 price target on the construction company’s stock, up from their previous price target of $100.00. Stifel Nicolaus’ price objective would indicate a potential upside of 2.81% from the company’s previous close.
TREX has been the topic of a number of other research reports. B. Riley raised shares of Trex from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $96.00 to $125.00 in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Thursday, January 11th. SunTrust Banks reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Trex in a research report on Wednesday, November 1st. Finally, FBR & Co lifted their price objective on shares of Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $102.14.
Trex (NYSE TREX) traded up $0.72 during midday trading on Thursday, reaching $106.99. 151,568 shares of the company’s stock were exchanged, compared to its average volume of 257,558. The stock has a market cap of $3,130.00, a P/E ratio of 32.40 and a beta of 2.31. Trex has a 1-year low of $61.57 and a 1-year high of $120.40.
Trex declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 21st that permits the company to repurchase 2,900,000 outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Trex news, Director Jay M. Gratz sold 1,058 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $116.95, for a total transaction of $123,733.10. Following the sale, the director now owns 8,801 shares of the company’s stock, valued at approximately $1,029,276.95. 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 2,322 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $111.79, for a total transaction of $259,576.38. Following the sale, the director now directly owns 7,643 shares in the company, valued at approximately $854,410.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,798 shares of company stock worth $540,778. Insiders own 0.95% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB purchased a new stake in Trex during the 4th quarter worth approximately $299,000. MetLife Investment Advisors LLC purchased a new stake in Trex during the 4th quarter worth approximately $1,407,000. Gotham Asset Management LLC purchased a new stake in Trex during the 4th quarter worth approximately $8,817,000. Millennium Management LLC grew its position in Trex by 318.5% during the 4th quarter. Millennium Management LLC now owns 16,754 shares of the construction company’s stock worth $1,816,000 after purchasing an additional 12,751 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Trex by 1.6% during the 4th quarter. Teachers Advisors LLC now owns 261,756 shares of the construction company’s stock worth $28,372,000 after purchasing an additional 4,029 shares during the last quarter. 90.58% of the stock is currently owned by institutional investors.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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