StockNews.com Downgrades Trex (NYSE:TREX) to Sell

Trex (NYSE:TREX) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

TREX has been the topic of a number of other reports. Bank of America lowered their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Benchmark dropped their target price on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Citigroup reduced their price target on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. UBS Group lowered their price target on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Loop Capital cut Trex from a “buy” rating to a “hold” rating and cut their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.88.

Trex Stock Up 0.9 %

Shares of NYSE:TREX opened at $64.12 on Wednesday. Trex has a 52-week low of $53.59 and a 52-week high of $101.91. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.07 and a beta of 1.50. The business has a 50-day moving average price of $70.61 and a 200-day moving average price of $82.76.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities analysts anticipate that Trex will post 2.06 EPS for the current fiscal year.

Institutional Trading of Trex

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Trex during the 1st quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Trex during the fourth quarter valued at about $25,000. Sunbelt Securities Inc. raised its stake in shares of Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after acquiring an additional 314 shares during the period. Rise Advisors LLC lifted its holdings in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after acquiring an additional 305 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in shares of Trex during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.