Trex’s (TREX) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Trex (NYSE:TREX) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $80.00 price objective on the construction company’s stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Citigroup decreased their target price 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 upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group decreased their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Truist Financial decreased their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $78.63.

Trex Price Performance

NYSE:TREX opened at $58.78 on Monday. The firm’s fifty day moving average price is $68.47 and its 200 day moving average price is $68.70. Trex has a 1-year low of $56.31 and a 1-year high of $100.77. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last posted its quarterly earnings data 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 net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. As a group, analysts expect that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TREX. Alliancebernstein L.P. increased its stake in shares of Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after acquiring an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Trex by 463.7% during 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 in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Trex during the 4th quarter worth approximately $110,414,000. Anomaly Capital Management LP increased its position in Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock worth $104,427,000 after purchasing an additional 1,051,888 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares in the last quarter. Institutional investors and hedge funds 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.