Trex (NYSE:TREX) Upgraded at StockNews.com

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

Other research analysts have also issued research reports about the stock. Bank of America lowered their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group dropped their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday. Citigroup cut their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Robert W. Baird boosted their target price on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. One equities research analyst has 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 MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus target price of $78.38.

Trex Stock Down 2.0 %

Shares of NYSE TREX opened at $60.30 on Tuesday. The business’s 50 day moving average is $69.34 and its two-hundred day moving average is $68.69. Trex has a 52-week low of $58.68 and a 52-week high of $100.77. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Analysts anticipate that Trex will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TREX. B. Riley Wealth Advisors Inc. purchased a new position in Trex during the 4th quarter worth approximately $318,000. Putney Financial Group LLC acquired a new stake in shares of Trex in the fourth quarter valued at approximately $2,470,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Trex by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,986 shares of the construction company’s stock worth $25,816,000 after acquiring an additional 11,845 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Trex by 65.8% in the 4th quarter. Woodline Partners LP now owns 312,491 shares of the construction company’s stock valued at $21,571,000 after acquiring an additional 124,070 shares during the period. Finally, Vident Advisory LLC raised its position in Trex by 2.2% in the 4th quarter. Vident Advisory LLC now owns 47,099 shares of the construction company’s stock valued at $3,251,000 after purchasing an additional 996 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.