StockNews.com Upgrades Trex (NYSE:TREX) to “Hold”

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

Several other analysts have also recently commented on the company. Barclays lowered their price target on Trex from $94.00 to $81.00 and set an underweight rating for the company in a report on Friday, July 12th. 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. The Goldman Sachs Group lowered their price target on Trex from $114.00 to $93.00 and set a buy rating for the company in a research report on Wednesday, July 10th. Citigroup cut their price objective on Trex from $94.00 to $80.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Finally, Loop Capital cut Trex from a buy rating to a hold rating and decreased their target price for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $80.88.

Trex Stock Performance

Trex stock opened at $69.15 on Thursday. The company has a market cap of $7.52 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 2.25 and a beta of 1.50. Trex has a one year low of $53.59 and a one year high of $101.91. The business has a fifty day moving average of $69.65 and a two-hundred day moving average of $81.38.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TREX. Mather Group LLC. acquired a new stake in shares of Trex during the first quarter worth $26,000. V Square Quantitative Management LLC acquired a new position in Trex in the fourth quarter worth approximately $25,000. Sunbelt Securities Inc. raised its holdings in Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after buying an additional 314 shares during the period. Rise Advisors LLC lifted its holdings in shares of Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in Trex during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds 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.