Trex (NYSE:TREX) Cut to “Sell” at StockNews.com

Trex (NYSE:TREX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

TREX has been the topic of a number of other reports. Stifel Nicolaus lowered their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. UBS Group dropped their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Benchmark decreased their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, Bank of America decreased their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus price target of $80.88.

Trex Trading Down 0.4 %

Shares of NYSE TREX traded down $0.25 during midday trading on Wednesday, reaching $63.54. The company’s stock had a trading volume of 913,030 shares, compared to its average volume of 931,430. The company has a 50 day moving average price of $70.76 and a 200 day moving average price of $82.89. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 2.07 and a beta of 1.50. Trex has a one year low of $53.59 and a one year high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. Trex’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. Research analysts anticipate that Trex will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Trex

A number of institutional investors have recently bought and sold shares of the company. Vident Advisory LLC purchased a new stake in Trex in the 1st quarter valued at about $4,013,000. Comerica Bank lifted its position in Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after purchasing an additional 8,036 shares during the last quarter. Broad Bay Capital Management LP raised its position in Trex by 3.8% during the fourth quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock valued at $34,358,000 after purchasing an additional 15,000 shares in the last quarter. Fisher Asset Management LLC grew its position in Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock valued at $8,173,000 after acquiring an additional 4,534 shares during the last quarter. Finally, Duality Advisers LP boosted its position in Trex by 54.1% during the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock valued at $4,756,000 after buying an additional 16,738 shares during the period. Institutional investors own 95.96% of the company’s stock.

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.