Trex (NYSE:TREX) Shares Break Above 200-Day Moving Average – Time to Sell?
by Jessica Moore · The Cerbat GemShares of Trex Company, Inc. (NYSE:TREX – Get Free Report) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $42.97 and traded as high as $45.13. Trex shares last traded at $44.07, with a volume of 1,555,708 shares trading hands.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. BMO Capital Markets set a $57.00 price objective on Trex in a research report on Wednesday, August 5th. Stephens increased their price target on shares of Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Barclays restated an “underweight” rating and set a $42.00 price target (up from $36.00) on shares of Trex in a report on Tuesday, July 14th. UBS Group reaffirmed a “buy” rating and set a $61.00 price objective (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Finally, Bank of America increased their target price on shares of Trex from $42.00 to $44.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 14th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.30.
View Our Latest Stock Report on TREX
Trex Trading Down 0.1%
The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.04 and a beta of 1.47. The company has a fifty day moving average price of $45.54 and a 200-day moving average price of $43.01.
Trex (NYSE:TREX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $418.02 million for the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. Trex’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. As a group, sell-side analysts predict that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.
Insider Activity
In related news, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the sale, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.93% of the company’s stock.
Institutional Trading of Trex
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Essential Partners LLC boosted its position in shares of Trex by 24.6% in the first quarter. Essential Partners LLC now owns 3,383 shares of the construction company’s stock valued at $123,000 after acquiring an additional 669 shares during the period. IFP Advisors Inc raised its stake in Trex by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 1,584 shares of the construction company’s stock worth $79,000 after purchasing an additional 684 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Trex by 77.6% in the 1st quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company’s stock valued at $77,000 after purchasing an additional 926 shares during the period. Red Spruce Capital LLC boosted its holdings in Trex by 2.3% in the 2nd quarter. Red Spruce Capital LLC now owns 49,410 shares of the construction company’s stock valued at $2,472,000 after purchasing an additional 1,101 shares during the period. Finally, Versant Capital Management Inc acquired a new position in shares of Trex during the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds own 95.96% of the company’s stock.
About Trex
Trex Company, Inc designs, manufactures and distributes composite decking, railing and related outdoor-living products. Its portfolio includes residential and commercial decking systems, railing, outdoor lighting, furniture, and other accessories sold under the Trex brand. The company’s products are positioned as alternatives to traditional wood and are designed to provide durability and lower maintenance.
Trex composite products are made primarily from reclaimed wood fibers and recycled polyethylene film, including materials such as used plastic bags and packaging.