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

StockNews.com downgraded shares of Trex (NYSE:TREX) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

A number of other equities analysts have also recently issued reports on the company. Bank of America cut their price objective on Trex from $97.00 to $85.00 and set a buy rating for the company in a report on Wednesday, August 7th. B. Riley cut their price objective on Trex from $107.00 to $97.00 and set a buy rating for the company in a report on Wednesday, August 7th. UBS Group cut their price objective on Trex from $104.00 to $79.00 and set a neutral rating for the company in a report on Wednesday, August 7th. Barclays lowered their target price on Trex from $94.00 to $81.00 and set an underweight rating for the company in a research note on Friday, July 12th. Finally, BMO Capital Markets lowered their target price on Trex from $88.00 to $82.00 and set a market perform rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trex presently has a consensus rating of Hold and a consensus target price of $80.88.

Trex Stock Up 3.1 %

Trex stock opened at $66.09 on Wednesday. Trex has a 52 week low of $53.59 and a 52 week high of $101.91. The business has a 50-day simple moving average of $70.47 and a 200 day simple moving average of $82.63. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.16 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Trex will post 2.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TREX. International Assets Investment Management LLC raised its position in Trex by 3,743.6% during the 4th quarter. International Assets Investment Management LLC now owns 5,381 shares of the construction company’s stock valued at $445,000 after purchasing an additional 5,241 shares during the last quarter. Truist Financial Corp bought a new position in Trex during the 4th quarter valued at approximately $303,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Trex by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 850,848 shares of the construction company’s stock worth $70,442,000 after acquiring an additional 15,507 shares during the period. Principal Securities Inc. purchased a new position in shares of Trex during the 4th quarter worth approximately $221,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Trex by 3.0% during the 4th quarter. Teacher Retirement System of Texas now owns 25,091 shares of the construction company’s stock worth $2,077,000 after acquiring an additional 740 shares during the period. Institutional investors 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.