Trex (NYSE:TREX) Downgraded by Zacks Investment Research to Sell

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Trex (NYSE:TREXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “

A number of other equities analysts also recently weighed in on TREX. UBS Group started coverage on shares of Trex in a research note on Wednesday, January 19th. They issued a “neutral” rating and a $111.00 target price for the company. Benchmark raised shares of Trex from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Monday, February 14th. Robert W. Baird dropped their target price on shares of Trex from $120.00 to $95.00 in a research note on Tuesday, March 1st. StockNews.com initiated coverage on shares of Trex in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, BNP Paribas cut shares of Trex from a “neutral” rating to an “underperform” rating and set a $81.00 price target for the company. in a research report on Monday, March 28th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $94.17.

Shares of NYSE:TREX traded up $2.70 during midday trading on Tuesday, reaching $58.38. 63,215 shares of the company’s stock were exchanged, compared to its average volume of 1,380,185. The company’s 50 day simple moving average is $67.16 and its two-hundred day simple moving average is $97.36. The firm has a market capitalization of $6.68 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44. Trex has a 12 month low of $51.76 and a 12 month high of $140.98.

Trex (NYSE:TREXGet Rating) last released its quarterly earnings data on Monday, May 9th. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $339.23 million during the quarter, compared to the consensus estimate of $326.67 million. Trex had a net margin of 17.41% and a return on equity of 36.80%. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. As a group, equities research analysts expect that Trex will post 2.44 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. National Asset Management Inc. lifted its stake in Trex by 3.3% in the third quarter. National Asset Management Inc. now owns 3,118 shares of the construction company’s stock valued at $318,000 after buying an additional 100 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Trex by 28.8% in the third quarter. Rockefeller Capital Management L.P. now owns 479 shares of the construction company’s stock worth $48,000 after purchasing an additional 107 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Trex by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 4,539 shares of the construction company’s stock worth $613,000 after purchasing an additional 130 shares in the last quarter. Allworth Financial LP lifted its position in shares of Trex by 17.0% in the fourth quarter. Allworth Financial LP now owns 936 shares of the construction company’s stock worth $126,000 after purchasing an additional 136 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 16,332 shares of the construction company’s stock worth $2,205,000 after purchasing an additional 140 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

About Trex (Get Rating)

Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.

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