Trex (NYSE:TREX) Rating Lowered to Sell at StockNews.com

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

A number of other equities research analysts also recently commented on TREX. Truist Financial reduced their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Bank of America reduced their price target on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday. UBS Group reduced their target price on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Finally, Citigroup lowered their price target on shares of Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $78.63.

Trex Trading Up 1.0 %

Shares of NYSE TREX traded up $0.56 during trading hours on Wednesday, reaching $58.78. The stock had a trading volume of 1,550,121 shares, compared to its average volume of 1,101,661. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.51 and a beta of 1.51. Trex has a fifty-two week low of $56.31 and a fifty-two week high of $100.77. The firm has a 50-day moving average of $68.47 and a 200-day moving average of $68.70.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. On average, equities analysts predict that Trex will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. raised its holdings in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after acquiring an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock valued at $216,400,000 after buying an additional 2,578,734 shares during the period. AustralianSuper Pty Ltd acquired a new position in Trex during the fourth quarter worth approximately $110,414,000. Anomaly Capital Management LP increased its holdings in shares of Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock worth $104,427,000 after buying an additional 1,051,888 shares during the last quarter. Finally, Wasatch Advisors LP increased its stake in Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company's stock worth $271,407,000 after acquiring an additional 1,015,516 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

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.