Stephens Downgrades Trex Co. to Equal Weight (TREX)
Trex Co. (NASDAQ:TREX) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports.
Separately, analysts at Griffin Securities downgraded shares of Trex Co. to a “neutral” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $66.50.
Shares of Trex Co. (NASDAQ:TREX) traded down 5.40% on Tuesday, hitting $78.12. 78,431 shares of the company’s stock traded hands. Trex Co. has a 52-week low of $41.25 and a 52-week high of $86.85. The stock has a 50-day moving average of $69.21 and a 200-day moving average of $61.24. The company has a market cap of $1.315 billion and a price-to-earnings ratio of 89.37.
Trex Co. (NASDAQ:TREX) last announced its earnings results on Monday, February 24th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.16. The company had revenue of $63.80 million for the quarter, compared to the consensus estimate of $50.63 million. On average, analysts predict that Trex Co. will post $2.81 earnings per share for the current fiscal year.
In other Trex Co. news, VP F Timothy Reese sold 1,750 shares of the company’s stock on the open market in a transaction dated Thursday, February 13th. The stock was sold at an average price of $65.63, for a total value of $114,852.50. Following the completion of the sale, the vice president now directly owns 38,309 shares of the company’s stock, valued at approximately $2,514,220. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Trex Company, Inc manufactures and distributes wood/plastic composite products, as well as related accessories, primarily for residential and commercial decking and railing applications.
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