Trex (NYSE:TREX) Rating Increased to Hold at StockNews.com

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

Several other equities research analysts also recently weighed in on TREX. DA Davidson reissued a “neutral” rating and issued a $74.00 target price on shares of Trex in a research report on Tuesday. UBS Group dropped their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial dropped their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group dropped their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Barclays decreased their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $78.38.

Trex Price Performance

Trex stock opened at $62.33 on Tuesday. Trex has a 12-month low of $58.68 and a 12-month high of $101.91. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The firm’s fifty day moving average price is $69.54 and its 200 day moving average price is $68.74.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Analysts forecast that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TREX. Alliancebernstein L.P. lifted its stake in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after acquiring an additional 3,818,025 shares during the period. Wasatch Advisors LP lifted its stake in shares of Trex by 12.8% in the 4th 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 lifted its stake in shares of Trex by 1.2% in the 3rd 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 lifted its stake in shares of Trex by 463.7% in the 4th 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 lifted its stake in shares of Trex by 6.2% in the 4th 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. 95.96% of the stock is owned by institutional investors and hedge funds.

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.