Trex (NYSE:TREX) Downgraded by StockNews.com

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

Several other research firms also recently issued reports on TREX. 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 research note on Monday, August 12th. Robert W. Baird increased their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday. BMO Capital Markets boosted their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday. The Goldman Sachs Group lowered their target price on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, DA Davidson raised their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus price target of $79.94.

Trex Trading Up 6.2 %

Shares of TREX opened at $70.63 on Tuesday. Trex has a twelve month low of $54.57 and a twelve month high of $101.91. The firm has a market capitalization 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. The stock’s fifty day simple moving average is $65.23 and its 200 day simple moving average is $75.72.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Sell-side analysts predict that Trex will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Trex

Institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. bought a new position in shares of Trex in the 2nd quarter worth about $31,000. Fidelis Capital Partners LLC purchased a new position in Trex in the 1st quarter worth about $59,000. Ashton Thomas Private Wealth LLC acquired a new stake in Trex during the 2nd quarter worth about $44,000. Quarry LP lifted its stake in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after buying an additional 513 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after buying an additional 370 shares during the period. 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.