Trex (NYSE:TREX) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Trex (NYSE:TREX) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

A number of other analysts have also issued reports on the company. B. Riley dropped their target price on Trex from $107.00 to $97.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. UBS Group cut their target price on Trex from $104.00 to $79.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Bank of America decreased their price target on shares of Trex from $97.00 to $85.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Citigroup cut their price target on shares of Trex from $94.00 to $80.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Trex from $95.00 to $69.00 and set a neutral rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $80.88.

Trex Stock Performance

Trex stock opened at $66.10 on Wednesday. Trex has a one year low of $53.59 and a one year high of $101.91. The stock’s 50 day moving average price is $70.38 and its 200 day moving average price is $82.43. The firm has a market capitalization of $7.19 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.18 and a beta of 1.50.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to analysts’ expectations of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. On average, analysts forecast that Trex will post 2.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cim LLC lifted its stake in Trex by 3.7% in the second quarter. Cim LLC now owns 15,666 shares of the construction company’s stock valued at $1,161,000 after buying an additional 563 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Trex in the 2nd quarter worth about $434,000. Granite Bay Wealth Management LLC bought a new stake in Trex in the 2nd quarter valued at about $467,000. Truist Financial Corp boosted its stake in Trex by 15.0% during the 2nd quarter. Truist Financial Corp now owns 3,949 shares of the construction company’s stock valued at $293,000 after purchasing an additional 515 shares during the period. Finally, Quarry LP grew its position in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the last quarter. Institutional investors and hedge funds 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.