Trex (NYSE:TREX) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Trex (NYSE:TREX) from a sell rating to a hold rating in a report issued on Thursday.

Several other equities analysts also recently weighed in on the company. Benchmark cut their target price on Trex from $105.00 to $80.00 and set a buy rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets lowered their price objective on shares of Trex from $88.00 to $82.00 and set a market perform rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Trex from $95.00 to $69.00 and set a neutral rating on the stock in a research report on Monday, August 12th. B. Riley reduced their price objective on shares of Trex from $107.00 to $97.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their target price on Trex from $114.00 to $93.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $80.88.

Trex Trading Down 2.9 %

Shares of TREX opened at $69.15 on Thursday. Trex has a 12 month low of $53.59 and a 12 month high of $101.91. The business’s fifty day simple moving average is $69.65 and its two-hundred day simple moving average is $81.38. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. During the same quarter in the prior year, the company earned $0.71 earnings per share. Trex’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Trex will post 2.03 EPS for the current year.

Institutional Investors Weigh In On Trex

A number of institutional investors and hedge funds have recently made changes to their positions in TREX. Cim LLC increased its position in Trex by 3.7% in the 2nd quarter. Cim LLC now owns 15,666 shares of the construction company’s stock valued at $1,161,000 after acquiring an additional 563 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Trex during the second quarter worth approximately $434,000. Granite Bay Wealth Management LLC acquired a new stake in shares of Trex during the second quarter worth $467,000. Truist Financial Corp grew its position in Trex by 15.0% in the 2nd quarter. Truist Financial Corp now owns 3,949 shares of the construction company’s stock valued at $293,000 after buying an additional 515 shares during the last quarter. Finally, Quarry LP increased its stake in Trex by 576.4% in the 2nd 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 period. 95.96% of the stock is 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.