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

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

Other equities research analysts also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and set a $80.00 price target on shares of Trex in a research note on Monday. Jefferies Financial Group cut their price target on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Bank of America cut their price target on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. UBS Group cut their price target on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Truist Financial cut their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Trading Up 1.0 %

Shares of Trex stock opened at $58.78 on Wednesday. The stock has a 50-day moving average price of $68.47 and a 200 day moving average price of $68.70. The company has a market cap of $6.30 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.51 and a beta of 1.51. Trex has a 1 year low of $56.31 and a 1 year high of $100.77.

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

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.71% of the company’s stock.

Institutional Trading of Trex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in Trex in the 3rd quarter valued at approximately $30,000. Mather Group LLC. grew its holdings in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after buying an additional 473 shares during the last quarter. Huntington National Bank grew its holdings in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after buying an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Trex during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds 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.