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

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

Several other equities analysts have also commented on TREX. Citigroup dropped their target price on Trex from $94.00 to $80.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Barclays decreased their target price on Trex from $94.00 to $81.00 and set an underweight rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on shares of Trex from $95.00 to $69.00 and set a neutral rating on the stock in a research note on Monday, August 12th. Bank of America reduced their price objective 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. Finally, Benchmark lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Trex currently has an average rating of Hold and a consensus price target of $80.88.

Trex Price Performance

TREX stock opened at $63.54 on Wednesday. The business’s 50-day moving average is $70.76 and its two-hundred day moving average is $82.89. The firm has a market capitalization of $6.91 billion, a P/E ratio of 27.27, a P/E/G ratio of 2.07 and a beta of 1.50. Trex has a 1 year low of $53.59 and a 1 year high of $101.91.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million for the quarter, compared to analysts’ expectations of $387.87 million. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that Trex will post 2.06 EPS for the current year.

Institutional Trading of Trex

Several hedge funds have recently made changes to their positions in TREX. Cim LLC boosted its stake in shares of 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 in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Trex during the 2nd quarter worth $434,000. Granite Bay Wealth Management LLC purchased a new position in shares of Trex in the 2nd quarter valued at about $467,000. Truist Financial Corp lifted its stake in shares of Trex by 15.0% in the second 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 boosted its holdings in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Trex

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.