Benchmark Reaffirms Buy Rating for Trex (NYSE:TREX)

Trex (NYSE:TREX)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $80.00 target price on the construction company’s stock. Benchmark’s target price points to a potential upside of 32.48% from the company’s current price.

Several other brokerages also recently issued reports on TREX. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Stephens reduced their price target on Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup decreased their price objective on Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on Trex in a research note on Tuesday, April 1st. They issued a “buy” rating and a $85.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.65.

Trex Trading Up 4.5%

Shares of NYSE TREX traded up $2.63 during trading on Monday, reaching $60.39. The company had a trading volume of 391,220 shares, compared to its average volume of 1,340,983. Trex has a twelve month low of $49.01 and a twelve month high of $92.02. The stock has a 50-day moving average price of $56.96 and a two-hundred day moving average price of $65.79. The stock has a market capitalization of $6.47 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

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

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Atomi Financial Group Inc. acquired a new stake in Trex in the fourth quarter valued at approximately $247,000. Pictet Asset Management Holding SA increased its stake in Trex by 7.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company’s stock worth $1,004,000 after buying an additional 969 shares during the period. SG Americas Securities LLC lifted its holdings in Trex by 298.5% in 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 in the last quarter. Park Avenue Securities LLC boosted its position in Trex by 26.6% in the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company’s stock valued at $514,000 after buying an additional 1,566 shares during the last quarter. Finally, Stephens Inc. AR grew its stake in shares of Trex by 10.6% during the fourth quarter. Stephens Inc. AR now owns 6,294 shares of the construction company’s stock valued at $434,000 after acquiring an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.