Trex (NYSE:TREX) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Trex (NYSE:TREX) from a hold rating to a sell rating in a report published on Tuesday.

TREX has been the subject of a number of other research reports. Benchmark reduced their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. B. Riley dropped their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Bank of America reduced their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial dropped their price target on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital lowered Trex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.94.

Trex Price Performance

TREX stock opened at $70.85 on Tuesday. The stock has a market capitalization of $7.59 billion, a P/E ratio of 32.35, a P/E/G ratio of 3.21 and a beta of 1.50. Trex has a 1-year low of $55.67 and a 1-year high of $101.91. The business has a fifty day moving average price of $65.46 and a 200-day moving average price of $75.54.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. As a group, analysts anticipate that Trex will post 2.05 earnings per share for the current year.

Hedge Funds Weigh In On Trex

A number of hedge funds and other institutional investors have recently modified their holdings of TREX. Hantz Financial Services Inc. purchased a new position in Trex during the 2nd quarter valued at approximately $31,000. UMB Bank n.a. boosted its position in shares of Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after acquiring an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex in the second quarter valued at $44,000. Quarry LP increased its position in Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after buying an additional 370 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

About Trex

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.