Trex (NYSE:TREX) Stock Rating Upgraded by StockNews.com

Trex (NYSE:TREX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities research analysts have also commented on the stock. UBS Group decreased their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays decreased their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Bank of America cut their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday. DA Davidson restated a “neutral” rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday. Finally, Citigroup lowered their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trex has an average rating of “Hold” and a consensus price target of $78.38.

Trex Stock Down 1.4 %

Shares of Trex stock opened at $61.54 on Tuesday. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The business has a 50 day moving average price of $69.34 and a 200-day moving average price of $68.69. The company has a market cap of $6.59 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. As a group, research analysts anticipate that Trex will post 2.04 EPS for the current year.

Hedge Funds Weigh In On Trex

Several institutional investors and hedge funds have recently bought and sold shares of TREX. L & S Advisors Inc purchased a new position in shares of Trex in the third quarter valued at about $1,000,000. Algert Global LLC lifted its holdings in Trex by 81.3% in the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock worth $5,746,000 after purchasing an additional 38,700 shares in the last quarter. Curi RMB Capital LLC boosted its stake in Trex by 27.2% in the 3rd quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock worth $4,537,000 after purchasing an additional 14,558 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Trex by 237.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock worth $3,534,000 after buying an additional 37,362 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in shares of Trex by 287.1% in the third quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock worth $1,119,000 after buying an additional 12,468 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.