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

Posted by on Apr 27th, 2023

Trex (NYSE:TREX – Get Rating) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other analysts have also recently weighed in on TREX. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and raised their target price for the stock from $55.00 to $64.00 in a report on Monday. Benchmark raised their price objective on shares of Trex from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. B. Riley cut their target price on shares of Trex from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Trex from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, January 10th. Finally, Barclays raised their price target on shares of Trex from $51.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.53.

Trex Trading Down 2.8 %

Shares of Trex stock opened at $52.17 on Thursday. The company has a fifty day moving average price of $50.20 and a 200 day moving average price of $48.31. Trex has a twelve month low of $38.68 and a twelve month high of $67.78. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 7.43 and a beta of 1.49.

Trex (NYSE:TREX – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $192.10 million for the quarter, compared to analysts’ expectations of $185.46 million. Trex had a net margin of 16.69% and a return on equity of 32.97%. The company’s quarterly revenue was down 36.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. Analysts forecast that Trex will post 1.53 earnings per share for the current year.

Institutional Trading of Trex

Institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its position in shares of Trex by 178.8% during the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after acquiring an additional 245 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Trex by 1,346.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 723 shares of the construction company’s stock valued at $31,000 after purchasing an additional 673 shares during the last quarter. Ossiam lifted its holdings in Trex by 36,666.7% during the 4th quarter. Ossiam now owns 1,103 shares of the construction company’s stock valued at $47,000 after purchasing an additional 1,100 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Trex by 105.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,278 shares of the construction company’s stock valued at $54,000 after purchasing an additional 657 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Trex by 29.2% during the 1st quarter. Fifth Third Bancorp now owns 1,233 shares of the construction company’s stock valued at $60,000 after purchasing an additional 279 shares during the last quarter. 94.64% of the stock is currently owned by institutional investors and hedge funds.

About Trex

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Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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