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

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

A number of other research analysts have also commented on the company. Bank of America lowered their price target on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. DA Davidson reissued a “neutral” rating and set a $74.00 price target on shares of Trex in a report on Tuesday, February 25th. Benchmark reissued a “buy” rating and set a $80.00 price target on shares of Trex in a report on Monday. Truist Financial lowered their price target on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Jefferies Financial Group lowered their price target on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.63.

Trex Price Performance

Shares of NYSE TREX opened at $58.78 on Wednesday. Trex has a 1-year low of $56.31 and a 1-year high of $100.77. The business’s fifty day moving average price is $68.47 and its two-hundred day moving average price is $68.70. The firm has a market capitalization of $6.30 billion, a PE ratio of 26.84, a P/E/G ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping 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 analyst estimates of $160.54 million. Equities research analysts expect that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Hedge funds and other institutional investors have recently modified their holdings of the stock. L & S Advisors Inc acquired a new position in shares of Trex in the 3rd quarter valued at $1,000,000. Algert Global LLC boosted its position in shares of Trex by 81.3% in the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock valued at $5,746,000 after purchasing an additional 38,700 shares during the period. Curi RMB Capital LLC boosted its position in shares of Trex by 27.2% in the 3rd quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock valued at $4,537,000 after purchasing an additional 14,558 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of Trex by 237.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock valued at $3,534,000 after purchasing an additional 37,362 shares during the period. Finally, Entropy Technologies LP boosted its position in shares of Trex by 287.1% in the 3rd quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock valued at $1,119,000 after purchasing an additional 12,468 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.