Trex shares are trading lower after the company reported worse-than-expected Q2 sales results and cut its guidance. Loop Capital downgraded the stock to Hold following the report.
Portfolio Pulse from Benzinga Newsdesk
Trex shares are trading lower after the company reported worse-than-expected Q2 sales results and cut its guidance. Loop Capital downgraded the stock to Hold following the report.
August 07, 2024 | 11:43 am
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Trex shares are trading lower due to worse-than-expected Q2 sales results and a cut in guidance. Loop Capital downgraded the stock to Hold.
The disappointing Q2 sales results and guidance cut are likely to negatively impact investor sentiment. The downgrade by Loop Capital further adds to the negative outlook, making a short-term decline in Trex's stock price likely.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100