Trex (NYSE:TREX) Reaches New 12-Month Low – What’s Next?

Trex Company, Inc. (NYSE:TREX) shares reached a new 52-week low on Tuesday . The company traded as low as $47.01 and last traded at $47.88, with a volume of 2208509 shares traded. The stock had previously closed at $48.32.

Analysts Set New Price Targets

A number of research firms have weighed in on TREX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Trex in a research report on Wednesday, October 8th. Robert W. Baird upgraded shares of Trex from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $75.00 in a research report on Thursday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of Trex from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Loop Capital reiterated a “hold” rating and issued a $66.00 price target on shares of Trex in a research report on Tuesday, August 5th. Finally, Zelman & Associates lowered their target price on shares of Trex from $74.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.71.

Trex Stock Down 0.9%

The firm’s fifty day moving average price is $54.49 and its 200 day moving average price is $57.74. The stock has a market cap of $5.13 billion, a PE ratio of 27.68, a P/E/G ratio of 2.02 and a beta of 1.49.

Trex (NYSE:TREX) last released its earnings results on Monday, August 4th. The construction company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The firm had revenue of $387.80 million for the quarter, compared to the consensus estimate of $377.49 million. Trex had a net margin of 16.53% and a return on equity of 21.27%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Trex

In related news, SVP Amy M. Fernandez sold 1,538 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total transaction of $98,708.84. Following the sale, the senior vice president owned 22,953 shares of the company’s stock, valued at $1,473,123.54. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trex

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Trex by 137.7% during the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock valued at $97,000 after acquiring an additional 965 shares during the last quarter. Red Spruce Capital LLC increased its position in Trex by 276.5% during the second quarter. Red Spruce Capital LLC now owns 56,973 shares of the construction company’s stock valued at $3,098,000 after acquiring an additional 41,841 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Trex during the first quarter valued at $911,000. Voya Investment Management LLC increased its position in Trex by 24.0% during the first quarter. Voya Investment Management LLC now owns 395,913 shares of the construction company’s stock valued at $23,003,000 after acquiring an additional 76,562 shares during the last quarter. Finally, United Services Automobile Association bought a new position in Trex during the first quarter valued at $414,000. Hedge funds and other 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.