Trex (NYSE:TREX) Upgraded at StockNews.com

Trex (NYSE:TREX) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts also recently commented on the company. Bank of America decreased their price objective on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. UBS Group decreased their price target on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Truist Financial decreased their price target on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Barclays decreased their price target on Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $80.88.

Trex Stock Performance

Shares of TREX opened at $68.00 on Thursday. Trex has a 52-week low of $53.59 and a 52-week high of $101.91. The business’s 50 day moving average price is $70.04 and its two-hundred day moving average price is $81.82. The firm has a market cap of $7.39 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. Research analysts predict that Trex will post 2.03 EPS for the current fiscal year.

Institutional Trading of Trex

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in Trex during the 4th quarter worth about $25,000. Mather Group LLC. bought a new position in Trex in the 1st quarter worth about $26,000. Hantz Financial Services Inc. bought a new position in Trex in the 2nd quarter worth about $31,000. Sunbelt Securities Inc. increased its stake in Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after acquiring an additional 314 shares during the last quarter. Finally, Rise Advisors LLC increased its stake in Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after acquiring an additional 305 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.