Trex Company (TREX) is Reiterated by Wedbush to Neutral, Raises Price Target to $ 55

Trex Company (TREX) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 55 from a previous price target of $53 . Wedbush advised their investors in a research report released on Oct 19, 2016.

Many Wall Street Analysts have commented on Trex Company. Company shares were Downgraded by Wedbush on Aug 3, 2016 to ” Neutral”, Firm has raised the Price Target to $ 53 from a previous price target of $50 .Trex Company was Downgraded by CL King to ” Neutral” on Aug 3, 2016.

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 $58.43 and hit $59.46 on the upside on Friday, eventually ending the session at $58.59, with a gain of 0.84% or 0.49 points. The heightened volatility saw the trading volume jump to 87,472 shares. Company has a market cap of $1,720 M.

In a different news, on Sep 7, 2016, Adam Dante Zambanini (Vice President, Marketing) sold 5,730 shares at $61.61 per share price. According to the SEC, on Aug 17, 2016, Frank H Jr Merlotti (director) sold 1,787 shares at $59.99 per share price. On Aug 17, 2016, Patricia B Robinson (director) sold 10,836 shares at $59.83 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 Company’s decking products include Trex Transcend Trex Enhance and Trex Select. The Company’s 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 Company’s 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 Company’s cellular PVC outdoor trim product. The Company offers Trex Hideaway which is a hidden fastening system for specially grooved boards.

Trex Company

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