Trex (NYSE:TREX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Trex (NYSE:TREX – Get Rating) in a research report released on Thursday morning. The firm issued a sell rating on the construction company’s stock.

Several other analysts have also commented on TREX. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Trex from $75.00 to $70.00 and set a buy rating on the stock in a research report on Tuesday, January 10th. Credit Suisse Group restated an underperform rating and set a $43.00 price target on shares of Trex in a research report on Tuesday, February 28th. Loop Capital raised their price target on shares of Trex from $52.00 to $55.00 and gave the company a hold rating in a research report on Tuesday, February 28th. Robert W. Baird raised their price target on shares of Trex from $52.00 to $58.00 and gave the company a neutral rating in a research report on Tuesday, February 28th. Finally, Stephens raised their price target on shares of Trex from $53.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $59.75.

Trex Price Performance

NYSE:TREX opened at $46.67 on Thursday. The firm has a market capitalization of $5.08 billion, a P/E ratio of 28.63, a PEG ratio of 9.18 and a beta of 1.49. Trex has a 1-year low of $38.68 and a 1-year high of $81.19. The company’s fifty day moving average price is $51.80 and its 200-day moving average price is $47.75.

Trex (NYSE:TREX – Get Rating) last released its quarterly earnings data on Monday, February 27th. The construction company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $192.10 million for the quarter, compared to analyst estimates of $185.46 million. Trex had a net margin of 16.69% and a return on equity of 32.97%. The business’s quarterly revenue was down 36.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. Equities analysts anticipate that Trex will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Trex

Institutional investors have recently bought and sold shares of the company. M&G Investment Management Ltd. increased its position in shares of Trex by 11.4% during the second quarter. M&G Investment Management Ltd. now owns 11,350 shares of the construction company’s stock valued at $613,000 after acquiring an additional 1,158 shares during the last quarter. SVB Wealth LLC increased its position in shares of Trex by 10.0% during the second quarter. SVB Wealth LLC now owns 204,018 shares of the construction company’s stock valued at $11,103,000 after acquiring an additional 18,607 shares during the last quarter. IMA Wealth Inc. acquired a new stake in shares of Trex during the second quarter valued at about $522,000. Guinness Asset Management LTD increased its position in shares of Trex by 6.6% during the third quarter. Guinness Asset Management LTD now owns 8,554 shares of the construction company’s stock valued at $376,000 after acquiring an additional 531 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Trex during the third quarter valued at about $4,120,000. 94.64% of the stock is owned by hedge funds and other institutional investors.

About Trex

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Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.