Trex (NYSE:TREX) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report released on Friday, 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. "
Several other equities research analysts also recently issued reports on the company. Barclays raised their price target on Trex from $82.00 to $99.00 and gave the company an "equal weight" rating in a research report on Tuesday. UBS Group started coverage on shares of Trex in a research note on Tuesday, December 8th. They issued a "buy" rating and a $94.00 target price for the company. BMO Capital Markets started coverage on shares of Trex in a research note on Wednesday, January 13th. They issued a "market perform" rating and a $90.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Trex from $72.00 to $75.00 and gave the company a "hold" rating in a research note on Tuesday, November 3rd. Finally, Truist increased their target price on shares of Trex from $73.00 to $100.00 in a research note on Tuesday. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. The company presently has a consensus rating of "Hold" and a consensus price target of $80.28.
Shares of NYSE:TREX opened at $89.64 on Friday. The company has a market cap of $10.38 billion, a P/E ratio of 62.04 and a beta of 1.46. The stock's 50-day moving average is $96.87 and its 200-day moving average is $81.39. Trex has a 52-week low of $28.11 and a 52-week high of $107.64.
Trex (NYSE:TREX) last issued its quarterly earnings results on Sunday, February 21st. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.36 by $0.01. The company had revenue of $228.29 million for the quarter, compared to the consensus estimate of $215.99 million. Trex had a return on equity of 35.52% and a net margin of 20.53%. The firm's revenue was up 38.5% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. Research analysts predict that Trex will post 1.54 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of TREX. NEXT Financial Group Inc bought a new position in shares of Trex in the third quarter valued at approximately $26,000. Perigon Wealth Management LLC bought a new position in shares of Trex in the fourth quarter valued at approximately $27,000. HM Payson & Co. raised its stake in shares of Trex by 100.0% in the third quarter. HM Payson & Co. now owns 400 shares of the construction company's stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. Glassman Wealth Services raised its stake in shares of Trex by 100.0% in the third quarter. Glassman Wealth Services now owns 430 shares of the construction company's stock valued at $31,000 after acquiring an additional 215 shares during the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Trex in the fourth quarter valued at approximately $31,000. Institutional investors own 98.56% of the company's stock.
Trex Company Profile
Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories for residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.
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