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

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

Several other research analysts also recently commented on the company. Bank of America reduced their target price on Trex from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Robert W. Baird decreased their price objective on Trex from $88.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. B. Riley lowered their price target on Trex from $107.00 to $97.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on shares of Trex from $110.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, Barclays lowered their target price on Trex from $94.00 to $81.00 and set an "underweight" rating for the company in a research note on Friday, July 12th. One investment 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 data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $80.88.

Trex Stock Performance

Shares of NYSE:TREX traded up $3.24 during midday trading on Thursday, hitting $71.24. 1,463,801 shares of the stock were exchanged, compared to its average volume of 934,129. The company has a market capitalization of $7.74 billion, a PE ratio of 30.58, a P/E/G ratio of 2.25 and a beta of 1.50. Trex has a 52-week low of $53.59 and a 52-week high of $101.91. The business's fifty day simple moving average is $69.90 and its two-hundred day simple moving average is $81.74.

Trex (NYSE:TREX - Get Free Report) last released its earnings results 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. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same quarter in the previous year, the business earned $0.71 EPS. The business's revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Trex will post 2.03 EPS for the current year.

Institutional Investors Weigh In On Trex

Hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC purchased a new stake in Trex in the first quarter worth about $4,013,000. Comerica Bank lifted its holdings in shares of 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 in the last quarter. Broad Bay Capital Management LP grew its stake in shares of Trex by 3.8% in the fourth quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company's stock worth $34,358,000 after acquiring an additional 15,000 shares during the period. Fisher Asset Management LLC grew its position in Trex by 4.8% in the 4th quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company's stock worth $8,173,000 after purchasing an additional 4,534 shares during the period. Finally, Duality Advisers LP increased 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 acquiring an additional 16,738 shares during the last quarter. 95.96% of the stock is currently owned by 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.