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

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

Several other research analysts also recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $74.00 target price on shares of Trex in a research note on Tuesday. Bank of America decreased their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday. BMO Capital Markets increased their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Barclays cut their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group dropped their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.38.

Trex Trading Up 1.1 %

Shares of NYSE:TREX traded up $0.66 on Tuesday, reaching $62.33. 3,851,410 shares of the company traded hands, compared to its average volume of 1,332,525. The stock has a market capitalization of $6.68 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The business’s 50-day simple moving average is $69.54 and its 200 day simple moving average is $68.74. Trex has a 52 week low of $58.68 and a 52 week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings results 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 business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Sell-side analysts expect that Trex will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TREX. Alliancebernstein L.P. lifted its holdings in shares of Trex by 54.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Trex by 463.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock valued at $216,400,000 after buying an additional 2,578,734 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in Trex in the fourth quarter worth $110,414,000. Anomaly Capital Management LP grew its stake in shares of Trex by 228.2% in the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock worth $104,427,000 after acquiring an additional 1,051,888 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in shares of Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

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.