Trex (NYSE:TREX) Downgraded to Sell Rating by Wall Street Zen

Trex (NYSE:TREX) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

TREX has been the topic of several other research reports. Benchmark cut Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. UBS Group increased their price objective on Trex from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. DA Davidson increased their price objective on Trex from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Barclays lowered their price objective on Trex from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Trex in a research report on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average target price of $47.58.

Trex Price Performance

TREX stock opened at $39.01 on Friday. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 9.03 and a beta of 1.61. The business’s fifty day moving average price is $39.41 and its two-hundred day moving average price is $40.54. Trex has a fifty-two week low of $29.77 and a fifty-two week high of $68.78.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The firm had revenue of $161.13 million for the quarter, compared to analysts’ expectations of $144.39 million. Trex had a return on equity of 20.29% and a net margin of 16.22%.The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. Research analysts expect that Trex will post 2.04 EPS for the current year.

Institutional Trading of Trex

Several large investors have recently bought and sold shares of TREX. Wellington Management Group LLP boosted its stake in Trex by 266.0% in the fourth quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock valued at $253,467,000 after buying an additional 5,251,297 shares in the last quarter. AQR Capital Management LLC boosted its stake in Trex by 143.8% in the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock valued at $136,655,000 after buying an additional 2,297,533 shares in the last quarter. Norges Bank acquired a new stake in Trex in the fourth quarter valued at about $62,904,000. Freestone Grove Partners LP acquired a new stake in Trex in the fourth quarter valued at about $53,951,000. Finally, Impax Asset Management Group plc boosted its stake in Trex by 93.0% in the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after buying an additional 932,247 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

About Trex

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.