Trex (NYSE:TREX) Downgraded by StockNews.com to Sell

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

TREX has been the topic of several other research reports. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and decreased their target price for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets upped their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday. UBS Group decreased their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Two investment 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Trading Down 0.1 %

Shares of TREX opened at $70.77 on Tuesday. The company’s 50-day moving average price is $65.59 and its 200 day moving average price is $75.51. Trex has a 12-month low of $58.68 and a 12-month high of $101.91. The firm has a market cap of $7.58 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 3.21 and a beta of 1.50.

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

Hedge Funds Weigh In On Trex

Several hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Trex in the 2nd quarter valued at about $31,000. UMB Bank n.a. lifted its stake in Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after buying an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex in the second quarter valued at approximately $44,000. Quarry LP grew its position in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after acquiring an additional 513 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after acquiring an additional 370 shares during the period. Hedge funds and other 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.