Trex's (TREX) Buy Rating Reaffirmed at Benchmark

Trex (NYSE:TREX - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Benchmark in a report issued on Monday,Benzinga reports. They presently have a $80.00 price target on the construction company's stock. Benchmark's price target suggests a potential upside of 32.48% from the company's previous close.

A number of other equities analysts also recently commented on the company. BMO Capital Markets raised Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their price objective on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Finally, DA Davidson reissued a "neutral" rating and issued a $74.00 price target on shares of Trex in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Trex currently has an average rating of "Hold" and an average target price of $76.65.

Trex Price Performance

NYSE TREX traded up $2.63 on Monday, hitting $60.39. The company had a trading volume of 391,220 shares, compared to its average volume of 1,340,983. Trex has a 12-month low of $49.01 and a 12-month high of $92.02. The company's fifty day moving average price is $56.96 and its 200-day moving average price is $65.79. The company has a market capitalization of $6.47 billion, a PE ratio of 27.54, a PEG ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same quarter in the previous year, the company posted $0.82 EPS. The firm's quarterly revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Atomi Financial Group Inc. acquired a new stake in shares of Trex in the 4th quarter worth approximately $247,000. Pictet Asset Management Holding SA increased its position in shares of Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after buying an additional 969 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Trex by 298.5% during the 4th quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company's stock worth $424,000 after buying an additional 4,597 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Trex by 26.6% during the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company's stock worth $514,000 after buying an additional 1,566 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in shares of Trex by 10.6% in the 4th quarter. Stephens Inc. AR now owns 6,294 shares of the construction company's stock worth $434,000 after buying an additional 601 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Company Profile

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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