Trex (NYSE:TREX) Upgraded by StockNews.com to "Hold" Rating

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

Other analysts have also recently issued reports about the company. Truist Financial lowered their target price on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday. BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. DA Davidson reaffirmed a "neutral" rating and set a $74.00 price target on shares of Trex in a research note on Tuesday. Citigroup decreased their price target on shares of Trex from $84.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned 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 $78.38.

Trex Stock Up 2.3 %

NYSE:TREX traded up $1.38 during trading hours on Tuesday, hitting $61.71. 1,719,540 shares of the stock were exchanged, compared to its average volume of 1,357,345. The company's 50 day moving average is $68.96 and its two-hundred day moving average is $68.65. Trex has a twelve month low of $58.68 and a twelve month high of $100.77. The company has a market capitalization of $6.61 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

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

Insider Buying and Selling

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was 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 of the company's stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Trex

Institutional investors have recently added to or reduced their stakes in the business. L & S Advisors Inc acquired a new position in Trex in the third quarter valued at approximately $1,000,000. Algert Global LLC increased its holdings in shares of Trex by 81.3% during the third quarter. Algert Global LLC now owns 86,300 shares of the construction company's stock valued at $5,746,000 after acquiring an additional 38,700 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of Trex by 27.2% during the third quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company's stock valued at $4,537,000 after acquiring an additional 14,558 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Trex by 237.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company's stock valued at $3,534,000 after acquiring an additional 37,362 shares in the last quarter. Finally, Entropy Technologies LP increased its holdings in shares of Trex by 287.1% during the third quarter. Entropy Technologies LP now owns 16,811 shares of the construction company's stock valued at $1,119,000 after acquiring an additional 12,468 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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.