Trex (NYSE:TREX) Sets New 1-Year Low – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TREX shares. Citigroup dropped their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. DA Davidson reiterated a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research report on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Bank of America cut their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Trex has an average rating of “Hold” and an average price target of $79.00.

Trex Trading Down 0.8 %

The stock’s fifty day moving average price is $62.97 and its 200 day moving average price is $67.66. The stock has a market cap of $5.89 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. On average, analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. boosted its position in Trex by 54.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after buying an additional 3,818,025 shares during the period. Wasatch Advisors LP boosted its holdings in Trex by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock valued at $317,505,000 after acquiring an additional 523,113 shares during the period. State Street Corp grew its position in Trex by 1.2% during the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after purchasing an additional 2,578,734 shares during the period. Finally, Bamco Inc. NY lifted its position in Trex by 6.2% in the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock valued at $148,631,000 after purchasing an additional 126,441 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

About Trex

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.