Trex (NYSE:TREX) Hits New 12-Month Low – What’s Next?

by · The Markets Daily

Trex Company, Inc. (NYSE:TREX – Get Free Report)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $50.35 and last traded at $53.97, with a volume of 187255 shares traded. The stock had previously closed at $55.38.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TREX shares. JPMorgan Chase & Co. reduced their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Citigroup decreased their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Truist Financial reduced their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Finally, DA Davidson restated a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Trex presently has an average rating of “Hold” and a consensus target price of $79.00.

Check Out Our Latest Analysis on Trex

Trex Trading Down 1.4 %

The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.51 and a beta of 1.60. The firm has a fifty day simple moving average of $63.35 and a 200 day simple moving average of $67.74.

Trex (NYSE:TREX – Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, equities analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trex

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Trex by 14.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,150 shares of the construction company’s stock valued at $770,000 after purchasing an additional 1,379 shares during the period. Cim LLC boosted its stake in Trex by 2.4% in the fourth quarter. Cim LLC now owns 15,913 shares of the construction company’s stock valued at $1,098,000 after acquiring an additional 372 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Trex during the 4th quarter worth $318,000. Putney Financial Group LLC bought a new stake in shares of Trex during the 4th quarter valued at $2,470,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Trex by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,986 shares of the construction company’s stock valued at $25,816,000 after purchasing an additional 11,845 shares during the period. Institutional investors own 95.96% of the company’s stock.

About Trex

(Get Free Report)

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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