Trex (NYSE:TREX) Rating Increased to Hold at StockNews.com

Trex (NYSE:TREX) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other equities research analysts have also recently weighed in on TREX. Robert W. Baird cut their price objective on shares of Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Barclays dropped their price target on shares of Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research report on Friday, July 12th. Benchmark decreased their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, B. Riley cut their target price on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.88.

Trex Trading Down 2.9 %

NYSE TREX opened at $69.15 on Thursday. The company has a 50-day moving average price of $69.65 and a two-hundred day moving average price of $81.56. Trex has a 52 week low of $53.59 and a 52 week high of $101.91. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last issued 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. The business had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. As a group, equities research analysts expect that Trex will post 2.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

Several hedge funds have recently modified their holdings of TREX. Dimensional Fund Advisors LP raised its holdings in shares of Trex by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,152,445 shares of the construction company’s stock valued at $95,415,000 after acquiring an additional 90,025 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Trex by 10.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,777 shares of the construction company’s stock valued at $313,000 after purchasing an additional 370 shares in the last quarter. Beacon Pointe Advisors LLC lifted its holdings in shares of Trex by 27.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 6,321 shares of the construction company’s stock valued at $523,000 after purchasing an additional 1,378 shares in the last quarter. Norges Bank acquired a new stake in shares of Trex in the fourth quarter worth $113,613,000. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Trex by 3.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,412 shares of the construction company’s stock valued at $531,000 after buying an additional 190 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.