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 issued to investors on Tuesday.

A number of other analysts have also weighed in on the stock. Barclays cut their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus decreased their price objective on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. DA Davidson raised their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, UBS Group decreased their price target on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $79.94.

Trex Trading Down 0.1 %

NYSE TREX opened at $70.77 on Tuesday. Trex has a 12-month low of $58.68 and a 12-month high of $101.91. The company has a fifty day simple moving average of $65.59 and a two-hundred day simple moving average of $75.51. The stock has a market cap of $7.58 billion, a P/E ratio of 32.32, a P/E/G ratio of 3.21 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm’s revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, sell-side analysts forecast that Trex will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On Trex

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new stake in shares of Trex in the second quarter worth approximately $31,000. UMB Bank n.a. grew its holdings in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after buying an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex during the second quarter worth $44,000. Quarry LP raised its position in shares of Trex by 576.4% in 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 during the last quarter. Finally, Mather Group LLC. lifted its stake 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 in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.