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

Trex (NYSE:TREX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

TREX has been the topic of a number of other reports. Citigroup lowered their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. Bank of America lowered their price objective on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Jefferies Financial Group lowered their price objective on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Stock Up 6.2 %

NYSE TREX traded up $4.12 during trading on Tuesday, hitting $70.63. The company’s stock had a trading volume of 5,809,508 shares, compared to its average volume of 998,483. The firm has a 50 day moving average price of $65.23 and a 200 day moving average price of $75.72. The firm has a market cap of $7.68 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50. Trex has a 52 week low of $54.57 and a 52 week high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, equities analysts expect that Trex will post 2.04 earnings per share for the current year.

Institutional Trading of Trex

Several large investors have recently made changes to their positions in TREX. Renaissance Technologies LLC bought a new stake in shares of Trex during the second quarter worth $19,475,000. Motley Fool Asset Management LLC grew its holdings in shares of Trex by 287.5% during the first quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock worth $32,400,000 after purchasing an additional 240,989 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Trex by 39.1% during the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after purchasing an additional 217,767 shares during the last quarter. Achmea Investment Management B.V. bought a new position in Trex in the second quarter valued at about $15,635,000. Finally, Blair William & Co. IL boosted its holdings in Trex by 19.4% in the first quarter. Blair William & Co. IL now owns 1,137,225 shares of the construction company’s stock valued at $113,438,000 after acquiring an additional 184,631 shares during the last quarter. 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.