Trex (NYSE:TREX) Trading Up 6.7% – Still a Buy?

Trex Company, Inc. (NYSE:TREX) shares shot up 6.7% on Monday . The stock traded as high as $77.46 and last traded at $77.06. 234,605 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,017,560 shares. The stock had previously closed at $72.25.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TREX. DA Davidson upped their target price on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Truist Financial lowered their target price on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Benchmark lowered their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Jefferies Financial Group decreased their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 3.29 and a beta of 1.49. The business’s 50-day simple moving average is $67.94 and its 200-day simple moving average is $73.18.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. On average, analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Institutional Trading of Trex

Hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Trex during the 3rd quarter worth approximately $30,000. Hantz Financial Services Inc. bought a new position in shares of Trex in the second quarter valued at $31,000. UMB Bank n.a. lifted its holdings in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Trex during the 2nd quarter valued at $44,000. Finally, Quarry LP lifted its holdings in Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.