|Over a week ago|
Trex Company upgraded to Buy at Truist on accelerating sales potential » 07:2304/1204/12/21
Truist analyst Keith…
Truist analyst Keith Hughes upgraded Trex Company to Buy from Hold with a price target of $120, up from $100. The analyst is citing the company's potential for above-expectation contribution margins, along with the strong offseason 2021-22 sales that should lead to "multiple quarters of outperformance". Trex's long-term path for composite decking share gains looks "clear", Hughes tells investors in a research note, adding that he is positive on the stock as it is one of the few names in the group below its high.
Trex Company upgraded to Buy from Hold at Truist » 06:1104/1204/12/21
Truist analyst Keith…
Truist analyst Keith Hughes upgraded Trex Company to Buy from Hold.
Trex Company price target raised to $104 from $99 at Barclays » 05:5704/0804/08/21
Barclays analyst Matthew…
Barclays analyst Matthew Bouley raised the firm's price target on Trex Company (TREX) to $104 from $99 and keeps an Equal Weight rating on the shares. The analyst's deep dive into decking industry capacity suggests Azek (AZEK) and Trex capacity additions are underappreciated in consensus revenue estimates. The analyst lifted fiscal 2021 and 2022 estimates for both and sees "room for even further upside." Longer-term, increased penetration of composite decking could require another $3B of industry capacity added over the next 10 years, Bouley tells investors in a research note. He estimates decking investments generate mid-to-high 20% internal rate of returns.
Trex Company initiated with a Buy at Loop Capital » 19:5104/0704/07/21
Loop Capital analyst…
Loop Capital analyst Jeffrey Stevenson initiated coverage of Trex Company with a Buy rating and $110 price target.
Trex Company announces NexTrex packaging label » 09:1304/0504/05/21
To help retailers clarify…
To help retailers clarify the recyclability of their packaging content, Trex Company announced a free package labeling initiative as part of its NexTrex Retail Recycling Program. The NexTrex label is available at no cost to brands whose packaging has been tested and verified as acceptable for recycling into high-performance Trex decking, which is made from more than 95% recycled material. Trex also will work with brand owners and companies to encourage promotion and participation at the retail level by positioning NexTrex bins and signage in stores to drive awareness and engagement in the plastic drop-off program. "This new labeling option brings our NexTrex recycling initiative full-circle by allowing brands that sell products in recyclable packaging to inform consumers about how to easily and responsibly dispose of packaging material, while also promoting their commitment to sustainability and involvement in the largest store drop-off program in the country," explained Dave Heglas, senior director of supply chain excellence for Trex Company. "With the NexTrex label, consumers know exactly where their recycled plastic is headed and that it will one day be transformed into beautiful Trex decking."
Trex Company: Ramp-up of new Virginia capacity ahead of schedule 08:1303/2203/22/21
Trex Company sees Q1 revenue at lower end of guidance at approx. $235M 08:1203/2203/22/21
Consensus is $241.16M.
Trex Company reports on electrical fire at Winchester, VA facility » 08:1103/2203/22/21
Trex Company reports on…
Trex Company reports on the impact of a recent fire and provides a first quarter production and capacity expansion update. "Thanks to extensive safety training and fast action by our employees and area firefighters, we are pleased to report that no one was injured in the electrical fire that occurred recently at one of the manufacturing buildings in our Winchester, Virginia complex. We are grateful to everyone who contributed to quickly extinguishing the fire and ensuring safety," said Bryan Fairbanks, President and CEO of Trex. "We anticipate minimal impact on our overall business as a result of this incident. Based on the projected production loss, we expect our first quarter revenue will be on the lower end of the guidance provided in February at approximately $235M, with production volume loss expected to be recovered during the second quarter," stated Fairbanks. Damage to the building's electrical systems is being addressed with repairs expected to run through the end of March. During this time, production will continue as normal at the company's other manufacturing facilities in both Virginia and Nevada. Additionally, the company's capacity expansion continues to advance at its Virginia site where Trex recently opened a new state-of-the-art manufacturing facility dedicated to producing Trex decking.
|Over a month ago|
Trex Company introduces Smoke Baffle system » 09:2503/1103/11/21
In the event of a fire,…
In the event of a fire, smoke - the largest cause of fire-related deaths - can travel just as fast as flames, posing major safety risks to a building and its occupants. To provide optimal protection against the spread and impact of smoke, Trex Commercial Products has introduced a new Smoke Baffle System engineered to serve the safety and aesthetic needs of today's commercial settings. Engineered to meet today's fire codes for commercial buildings, Trex Commercial Products' Smoke Baffle System is designed to both contain and prevent the spread of smoke along ceilings. The draft curtain utilizes 1/2" laminated glass held in place by an aluminum glass channel, creating a virtually invisible glass curtain that resists high temperatures.
Trex Company price target raised to $100 from $73 at Truist » 09:2502/2302/23/21
Truist analyst Keith…
Truist analyst Keith Hughes raised the firm's price target on Trex Company to $100 from $73 but keeps a Hold rating on the shares. The analyst notes that the company's Q4 revenues were well above expectations, but the stock may trade down in the immediate term due to a "more limited" bottom line follow-through. Hughes adds that Trex management's view of 35%-40% in incremental margins in 2021 is in-line with the historical results, which is "surprising" given the "slow start" to the year that was expected for this metric.