Trex (NYSE:TREX) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Trex (NYSE:TREX) from a hold rating to a sell rating in a research report released on Saturday.

Other research analysts have also issued research reports about the stock. B. Riley reiterated a “buy” rating and set a $57.00 price objective (down previously from $80.00) on shares of Trex in a research note on Wednesday, November 5th. Zelman & Associates downgraded Trex from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft cut Trex from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Wednesday, November 5th. Jefferies Financial Group raised Trex from a “hold” rating to a “buy” rating and raised their price target for the stock from $39.00 to $42.00 in a report on Monday, December 15th. Finally, Zacks Research downgraded shares of Trex from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.25.

Trex Trading Up 0.3%

Shares of NYSE TREX opened at $41.77 on Friday. Trex has a 12-month low of $29.77 and a 12-month high of $75.55. The stock’s fifty day simple moving average is $34.84 and its two-hundred day simple moving average is $49.93. The stock has a market capitalization of $4.48 billion, a PE ratio of 22.70 and a beta of 1.55.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The company had revenue of $285.35 million for the quarter, compared to the consensus estimate of $301.74 million. Trex had a net margin of 16.76% and a return on equity of 21.90%. Trex’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. On average, equities analysts predict that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In related news, CFO Prithvi Gandhi acquired 15,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average price of $31.92 per share, with a total value of $478,800.00. Following the acquisition, the chief financial officer directly owned 30,664 shares in the company, valued at $978,794.88. This represents a 95.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Trex

A number of large investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. acquired a new stake in shares of Trex in the second quarter valued at about $31,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Trex during the third quarter worth approximately $31,000. Parallel Advisors LLC raised its stake in Trex by 28.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock valued at $57,000 after purchasing an additional 232 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Trex in the 2nd quarter valued at $60,000. Finally, Rothschild Investment LLC acquired a new stake in Trex during the 3rd quarter worth $60,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.