Trex (NYSE:TREX) Trading 7.9% Higher – Time to Buy?
by Scott Moore · The Cerbat GemTrex Company, Inc. (NYSE:TREX – Get Free Report)’s stock price rose 7.9% during mid-day trading on Thursday . The company traded as high as $39.27 and last traded at $39.41. Approximately 773,145 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,859,824 shares. The stock had previously closed at $36.52.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Barclays set a $32.00 price target on Trex in a research note on Monday, December 8th. Zelman & Associates lowered shares of Trex from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Trex in a report on Monday, December 29th. Truist Financial decreased their target price on Trex from $75.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, DA Davidson set a $45.00 target price on Trex and gave the company a “neutral” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.35.
View Our Latest Stock Analysis on TREX
Trex Stock Performance
The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 21.49 and a beta of 1.55. The business’s 50-day moving average is $35.28 and its 200-day moving average is $50.26.
Trex (NYSE:TREX – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). The firm had revenue of $285.35 million for the quarter, compared to analyst estimates of $301.74 million. Trex had a return on equity of 21.90% and a net margin of 16.76%.The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. Equities research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.
Insider Transactions at Trex
In related news, CFO Prithvi Gandhi acquired 15,000 shares of the stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the transaction, the chief financial officer owned 30,664 shares of the company’s stock, valued at $978,794.88. The trade was a 95.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Red Spruce Capital LLC increased its position in shares of Trex by 276.5% during the 2nd quarter. Red Spruce Capital LLC now owns 56,973 shares of the construction company’s stock worth $3,098,000 after purchasing an additional 41,841 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Trex by 24.0% in the first quarter. Voya Investment Management LLC now owns 395,913 shares of the construction company’s stock valued at $23,003,000 after buying an additional 76,562 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Trex during the second quarter worth $3,015,000. Advantage Alpha Capital Partners LP raised its position in Trex by 169.2% during the second quarter. Advantage Alpha Capital Partners LP now owns 75,013 shares of the construction company’s stock worth $4,079,000 after acquiring an additional 47,143 shares in the last quarter. Finally, Pembroke Management LTD lifted its stake in Trex by 23.7% in the second quarter. Pembroke Management LTD now owns 427,238 shares of the construction company’s stock valued at $23,233,000 after acquiring an additional 81,970 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.
Trex Company Profile
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.