Wedbush Downgrades Trex Company to Neutral

Brokerage firm Wedbush Downgrades its rating on Trex Company(NYSE:TREX). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Wedbush was issued on Aug 3, 2016.

Trex Company (TREX) shares turned negative on Fridays trading session with the shares closing down -0.22 points or -0.37% at a volume of 1,74,812. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $60.46. The peak price level was also seen at $60.46 while the days lowest was $59.22. Finally the shares closed at $60.01. The 52-week high of the shares is $60.615 while the 52-week low is $31.11. According to the latest information available, the market cap of the company is $1,761 M.

Trex Company(TREX) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $146.45M. Analysts had an estimated revenue of $145.19M. Earnings per share were $0.79. Analysts had estimated an EPS of $0.71.

Several Insider Transactions has been reported to the SEC. On May 17, 2016, Frank H Jr Merlotti (director) sold 1,709 shares at $41.31 per share price.Also, On May 13, 2016, James E Cline (President and CEO) sold 6,386 shares at $43.09 per share price.On Apr 18, 2016, William R. Gupp (Sr VP,Gen. Counsel & Secretary) sold 11,648 shares at $49.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Trex Company Inc. is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a range of products in the decking railing porch fencing trim steel deck framing and outdoor lighting categories. The Company’s decking products include Trex Transcend Trex Enhance and Trex Select. The Company’s railing products include Trex Transcend Railing Trex Select Railing and Trex Reveal aluminum railing. The Company offers porch product Trex Transcend Porch Flooring and Railing System. Trex Elevations is the Company’s steel deck framing system. The Company offers fencing product Trex Seclusions. The Company offers outdoor lighting systems Trex DeckLighting and Trex Landscape Lighting. TrexTrim is the Company’s cellular PVC outdoor trim product. The Company offers Trex Hideaway which is a hidden fastening system for specially grooved boards.

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