- Trex Company Inc (NYSE:TREX) has been downgraded to Underperform from Neutral, with a price target of $81 (an upside of 16%) by Exane BNP Paribas analyst Yves Bromehead.
- Meanwhile, William Blair analyst Ryan Merkel remains a buyer of TREX shares following his meeting with the company’s management.
- Merkel lists several factors, including healthy demand, full contractor backlogs, the muted impact of higher oil prices on recycled plastic prices, share buybacks, and intact 2022 Street estimates.
- The analyst thinks putting Trex in the “COVID winner” box is misplaced.
- Trex is a manufacturer of wooden alternative-decking products. The company offers outdoor products in the decking, railing, porch, fencing, trim, steel deck framing, and outdoor lighting categories.
- Price Action: TREX shares are trading higher by 1.51% at $70.00 on the last check Monday.
Mortgage Payments For New Homebuyers Increasing 67% Faster Than Rents: Report
Although mortgage interest rates remain a near-record lows, the national median monthly mortgage payment for homebuyers in August grew 67% faster than rental housing payments, according to a new data analysis from Redfin Corp (NASDAQ:
