Trex (NYSE:TREX) Lowered to Hold Rating by Benchmark

by · The Markets Daily

Trex (NYSE:TREX – Get Free Report) was downgraded by Benchmark from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

Other equities research analysts have also recently issued reports about the company. Barclays set a $32.00 price objective on Trex in a research note on Monday, December 8th. The Goldman Sachs Group set a $54.00 target price on Trex and gave the company a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Trex in a report on Monday, December 29th. William Blair lowered shares of Trex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Trex from $71.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.25.

Check Out Our Latest Stock Analysis on Trex

Trex Stock Up 1.5%

Trex stock opened at $44.44 on Wednesday. Trex has a 52-week low of $29.77 and a 52-week high of $71.01. The firm’s fifty day moving average is $38.81 and its 200 day moving average is $47.19. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 24.15 and a beta of 1.58.

Insiders Place Their Bets

In other Trex news, CFO Prithvi Gandhi bought 15,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the transaction, the chief financial officer 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trex

Several institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Trex in the fourth quarter valued at about $62,904,000. AQR Capital Management LLC increased its position in Trex by 17,551.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,598,001 shares of the construction company’s stock valued at $81,498,000 after purchasing an additional 1,588,948 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Trex by 93.0% in the 3rd quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after purchasing an additional 932,247 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Trex by 86.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock worth $102,002,000 after purchasing an additional 917,448 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Trex by 90.6% during the third quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock valued at $75,949,000 after purchasing an additional 698,628 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Company Profile

(Get Free Report)

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.

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