Trex (NYSE:TREX) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Trex (NYSE:TREX) from a hold rating to a sell rating in a report published on Wednesday morning.

A number of other analysts also recently issued reports on TREX. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of Trex in a report on Monday, March 3rd. Citigroup cut their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. DA Davidson reissued a “neutral” rating and issued a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Finally, Bank of America lowered their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus price target of $78.63.

Trex Price Performance

Shares of Trex stock opened at $56.26 on Wednesday. The company’s fifty day simple moving average is $67.96 and its 200-day simple moving average is $68.55. The stock has a market capitalization of $6.03 billion, a PE ratio of 25.69, a P/E/G ratio of 2.51 and a beta of 1.60. Trex has a 1-year low of $54.70 and a 1-year high of $100.77.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. As a group, research analysts anticipate that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its stake in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after purchasing an additional 3,818,025 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Trex by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock worth $317,505,000 after acquiring an additional 523,113 shares during the period. State Street Corp increased its stake in shares of Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Trex by 463.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after acquiring an additional 2,578,734 shares during the period. Finally, Bamco Inc. NY increased its stake in shares of Trex by 6.2% in the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock worth $148,631,000 after acquiring an additional 126,441 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.