Trex (NYSE:TREX) Upgraded by StockNews.com to “Hold” Rating

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

Several other research analysts also recently issued reports on the company. DA Davidson reaffirmed a “neutral” rating and set a $74.00 price target on shares of Trex in a research note on Tuesday. BMO Capital Markets lifted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Robert W. Baird increased their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial cut their price objective on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average price target of $78.38.

Trex Stock Performance

Trex stock opened at $60.30 on Tuesday. The company has a market cap of $6.46 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex has a one year low of $58.68 and a one year high of $100.77. The business has a fifty day moving average of $69.34 and a two-hundred day moving average of $68.69.

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

Institutional Investors Weigh In On Trex

Several large investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. acquired a new position in shares of Trex during the fourth quarter worth about $318,000. Putney Financial Group LLC purchased a new stake in shares of Trex during the 4th quarter valued at about $2,470,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Trex by 3.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,986 shares of the construction company’s stock worth $25,816,000 after acquiring an additional 11,845 shares in the last quarter. Woodline Partners LP boosted its holdings in Trex by 65.8% in the 4th quarter. Woodline Partners LP now owns 312,491 shares of the construction company’s stock worth $21,571,000 after acquiring an additional 124,070 shares during the period. Finally, Vident Advisory LLC grew its position in Trex by 2.2% in the fourth quarter. Vident Advisory LLC now owns 47,099 shares of the construction company’s stock valued at $3,251,000 after acquiring an additional 996 shares in the last quarter. 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.