Trex Company (TREX) was Downgraded by Wedbush to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 53 from a previous price target of $50 . Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Aug 3, 2016.
Many Wall Street Analysts have commented on Trex Company. Trex Company was Initiated by Sidoti to “Neutral” on Jun 2, 2016. FBR Capital Initiated Trex Company on Jun 1, 2016 to “Outperform”, Price Target of the shares are set at $50.
On the company’s financial health, Trex Company reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.71. The company had revenue of $146.45 million for the quarter, compared to analysts expectations of $145.18 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Trex Company opened for trading at $51.88 and hit $57.74 on the upside on Tusday, eventually ending the session at $56.95, with a gain of 16.46% or 8.05 points. The heightened volatility saw the trading volume jump to 18,49,839 shares. Company has a market cap of $1,670 M.
In a different news, on May 17, 2016, Frank H Jr Merlotti (director) sold 1,709 shares at $41.31 per share price. According to the SEC, on May 13, 2016, James E Cline (President and CEO) sold 6,386 shares at $43.09 per share price. On Apr 18, 2016, William R. Gupp (Sr VP,Gen. Counsel & Secretary) sold 11,648 shares at $49.90 per share price, according to the Form-4 filing with the securities and exchange commission.
Trex Company Inc. is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a range of products in the decking railing porch fencing trim steel deck framing and outdoor lighting categories. The Companys decking products include Trex Transcend Trex Enhance and Trex Select. The Companys railing products include Trex Transcend Railing Trex Select Railing and Trex Reveal aluminum railing. The Company offers porch product Trex Transcend Porch Flooring and Railing System. Trex Elevations is the Companys steel deck framing system. The Company offers fencing product Trex Seclusions. The Company offers outdoor lighting systems Trex DeckLighting and Trex Landscape Lighting. TrexTrim is the Companys cellular PVC outdoor trim product. The Company offers Trex Hideaway which is a hidden fastening system for specially grooved boards.