Trex (NYSE:TREX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Trex (NYSE:TREX) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “

TREX has been the subject of several other reports. DA Davidson reaffirmed a positive rating and set a $102.00 target price on shares of Trex in a report on Tuesday, October 29th. Exane BNP Paribas initiated coverage on shares of Trex in a report on Wednesday, October 9th. They set an underperform rating for the company. Deutsche Bank initiated coverage on shares of Trex in a report on Wednesday, November 27th. They set a hold rating for the company. BNP Paribas began coverage on shares of Trex in a report on Wednesday, October 9th. They set an underperform rating for the company. Finally, Sidoti lowered shares of Trex from a buy rating to a neutral rating and set a $84.00 price target for the company. in a report on Tuesday, August 6th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $86.10.

NYSE:TREX opened at $86.06 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.02. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 3.64 and a beta of 1.92. The company has a 50 day moving average price of $88.51 and a 200-day moving average price of $79.23. Trex has a 1-year low of $53.48 and a 1-year high of $93.63.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $195.00 million during the quarter, compared to analyst estimates of $208.12 million. Trex had a net margin of 18.65% and a return on equity of 35.80%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. On average, sell-side analysts anticipate that Trex will post 2.41 earnings per share for the current fiscal year.

In other Trex news, insider Adam Dante Zambanini sold 4,344 shares of Trex stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $84.20, for a total transaction of $365,764.80. Following the sale, the insider now owns 88,229 shares of the company’s stock, valued at approximately $7,428,881.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jay M. Gratz sold 2,792 shares of Trex stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.46, for a total transaction of $233,020.32. Following the sale, the director now directly owns 15,651 shares in the company, valued at approximately $1,306,232.46. The disclosure for this sale can be found here. In the last three months, insiders sold 21,388 shares of company stock valued at $1,802,560. 0.93% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. TRUE Private Wealth Advisors acquired a new stake in Trex during the 2nd quarter worth $43,000. Penserra Capital Management LLC boosted its position in shares of Trex by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 730 shares of the construction company’s stock valued at $66,000 after acquiring an additional 146 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Trex by 31.6% during the 2nd quarter. Advisor Group Inc. now owns 1,009 shares of the construction company’s stock valued at $72,000 after acquiring an additional 242 shares during the last quarter. ETF Managers Group LLC boosted its position in shares of Trex by 6.0% during the 2nd quarter. ETF Managers Group LLC now owns 2,790 shares of the construction company’s stock valued at $194,000 after acquiring an additional 159 shares during the last quarter. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Trex during the 3rd quarter valued at about $217,000. 96.87% of the stock is currently owned by institutional investors.

Trex Company Profile

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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