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

Wall Street Zen downgraded shares of Trex (NYSE:TREX) from a hold rating to a sell rating in a research report sent to investors on Saturday.

TREX has been the topic of several other research reports. Vertical Research cut shares of Trex from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Wednesday, November 5th. William Blair cut Trex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Wolfe Research upgraded Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Trex in a research report on Monday, December 29th. Finally, Barclays set a $32.00 price objective on Trex in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.35.

Trex Stock Up 8.2%

Shares of TREX opened at $41.69 on Friday. The business’s 50-day moving average price is $34.96 and its 200-day moving average price is $50.05. Trex has a twelve month low of $29.77 and a twelve month high of $75.55. The stock has a market cap of $4.47 billion, a PE ratio of 22.66 and a beta of 1.55.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.06). The firm had revenue of $285.35 million for the quarter, compared to analysts’ expectations of $301.74 million. Trex had a net margin of 16.76% and a return on equity of 21.90%. Trex’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. Analysts expect that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In other Trex news, CFO Prithvi Gandhi bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the transaction, the chief financial officer directly owned 30,664 shares in the company, valued at $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in shares of Trex by 3.2% in the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after acquiring an additional 177 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Trex by 91.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after purchasing an additional 392,715 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Trex by 107.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 777,189 shares of the construction company’s stock worth $45,155,000 after purchasing an additional 403,203 shares during the period. Voya Investment Management LLC lifted its position in Trex by 24.0% in the first quarter. Voya Investment Management LLC now owns 395,913 shares of the construction company’s stock valued at $23,003,000 after purchasing an additional 76,562 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Trex by 28.4% during the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock valued at $57,000 after purchasing an additional 232 shares during the period. 95.96% of the stock is owned by institutional investors.

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.