StockNews.com Lowers Trex (NYSE:TREX) to Sell

Trex (NYSE:TREX - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Tuesday.

Other research analysts have also issued reports about the company. DA Davidson lifted their target price on Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Benchmark lowered their target price on Trex from $105.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. B. Riley dropped their price target on Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price target on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $79.94.

Trex Stock Up 6.2 %

TREX stock traded up $4.12 during mid-day trading on Tuesday, reaching $70.63. The company had a trading volume of 5,809,508 shares, compared to its average volume of 998,483. The stock has a market capitalization of $7.68 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.45 and a beta of 1.50. Trex has a one year low of $54.57 and a one year high of $101.91. The stock's 50-day simple moving average is $65.23 and its two-hundred day simple moving average is $75.72.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company's quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, research analysts forecast that Trex will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TREX. Renaissance Technologies LLC bought a new position in shares of Trex in the 2nd quarter valued at approximately $19,475,000. Motley Fool Asset Management LLC raised its stake in shares of Trex by 287.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company's stock valued at $32,400,000 after acquiring an additional 240,989 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Trex by 39.1% in the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company's stock valued at $57,375,000 after acquiring an additional 217,767 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Trex in the 2nd quarter valued at approximately $15,635,000. Finally, Blair William & Co. IL increased its position in Trex by 19.4% in the 1st quarter. Blair William & Co. IL now owns 1,137,225 shares of the construction company's stock worth $113,438,000 after buying an additional 184,631 shares during the period. 95.96% of the stock is owned by institutional investors.

About Trex

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.

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