Trex (NYSE:TREX) Trading Down 3.4% Following Analyst Downgrade

Trex Company, Inc. (NYSE:TREX) shares traded down 3.4% on Wednesday after DA Davidson lowered their price target on the stock from $89.00 to $80.00. DA Davidson currently has a neutral rating on the stock. Trex traded as low as $69.99 and last traded at $70.12. 200,705 shares traded hands during trading, a decline of 75% from the average session volume of 816,800 shares. The stock had previously closed at $72.59.

A number of other analysts have also issued reports on TREX. Robert W. Baird lowered their target price on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Benchmark reaffirmed a “buy” rating and set a $105.00 target price on shares of Trex in a research report on Tuesday, May 14th. Finally, Barclays increased their price target on shares of Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.06.

Insiders Place Their Bets

In related news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the transaction, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd increased its stake in shares of Trex by 17.9% in the third quarter. Quadrature Capital Ltd now owns 21,966 shares of the construction company’s stock valued at $1,354,000 after buying an additional 3,330 shares in the last quarter. Kennedy Capital Management LLC increased its position in Trex by 5.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 157,168 shares of the construction company’s stock valued at $9,686,000 after acquiring an additional 8,750 shares in the last quarter. Seven Eight Capital LP raised its stake in shares of Trex by 554.0% in the third quarter. Seven Eight Capital LP now owns 21,006 shares of the construction company’s stock worth $1,295,000 after acquiring an additional 17,794 shares during the last quarter. Spouting Rock Asset Management LLC acquired a new position in shares of Trex during the third quarter worth approximately $294,000. Finally, Tudor Investment Corp Et Al grew its stake in shares of Trex by 2,017.3% during the third quarter. Tudor Investment Corp Et Al now owns 138,365 shares of the construction company’s stock valued at $8,527,000 after purchasing an additional 131,830 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Stock Down 2.5 %

The business’s fifty day moving average is $85.19 and its two-hundred day moving average is $87.62. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The business’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. Research analysts forecast that Trex Company, Inc. will post 2.26 EPS for the current year.

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.