Trex (NYSE:TREX) Hits New 12-Month Low – Time to Sell?

Trex Company, Inc. (NYSE:TREX) shares hit a new 52-week low during trading on Thursday . The company traded as low as $49.01 and last traded at $57.41, with a volume of 2592424 shares changing hands. The stock had previously closed at $50.52.

Analyst Ratings Changes

A number of research firms have issued reports on TREX. Barclays decreased their target price on Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research report on Tuesday. Bank of America reduced their price target on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Benchmark restated a “buy” rating and set a $80.00 target price on shares of Trex in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research report on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trex has an average rating of “Hold” and a consensus price target of $78.24.

Trex Stock Performance

The firm has a market capitalization of $6.16 billion, a P/E ratio of 26.21, a PEG ratio of 2.51 and a beta of 1.62. The firm has a 50-day moving average of $61.03 and a 200-day moving average of $67.12.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for 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, research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the 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 directly owns 1,705 shares of the company’s stock, valued at $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 is available through this link. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

A number of institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. raised its holdings in Trex by 122,070.0% in the 1st quarter. NBC Securities Inc. now owns 12,217 shares of the construction company’s stock worth $709,000 after purchasing an additional 12,207 shares during the period. Green Alpha Advisors LLC raised its holdings in Trex by 84.2% in the 1st quarter. Green Alpha Advisors LLC now owns 19,355 shares of the construction company’s stock worth $1,125,000 after purchasing an additional 8,846 shares during the period. GAMMA Investing LLC raised its holdings in Trex by 13,708.1% in the 1st quarter. GAMMA Investing LLC now owns 96,795 shares of the construction company’s stock worth $5,624,000 after purchasing an additional 96,094 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Trex by 14.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,150 shares of the construction company’s stock worth $770,000 after purchasing an additional 1,379 shares during the period. Finally, Cim LLC raised its holdings in Trex by 2.4% in the 4th quarter. Cim LLC now owns 15,913 shares of the construction company’s stock worth $1,098,000 after purchasing an additional 372 shares during the period. 95.96% of the stock is owned by institutional investors.

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.