Trex Company, Inc. (NYSE:TREX) Short Interest Update

Trex Company, Inc. (NYSE:TREX - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 7,570,000 shares, an increase of 18.8% from the March 15th total of 6,370,000 shares. Based on an average trading volume of 1,710,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 7.1% of the shares of the stock are sold short.

Trex Stock Down 3.4 %

Shares of TREX stock traded down $1.88 during trading hours on Monday, hitting $53.73. 1,088,905 shares of the company's stock traded hands, compared to its average volume of 1,309,813. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.51 and a beta of 1.62. The stock's fifty day simple moving average is $58.75 and its two-hundred day simple moving average is $66.50. Trex has a 12-month low of $49.01 and a 12-month high of $94.00.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. The firm 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, equities analysts forecast that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value 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. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. increased its holdings in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after purchasing an additional 3,818,025 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Trex by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock valued at $317,505,000 after buying an additional 523,113 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Trex by 463.7% in 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 buying an additional 2,578,734 shares in the last quarter. Bamco Inc. NY increased its holdings in Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock worth $148,631,000 after buying an additional 126,441 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Trex by 86.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock worth $140,064,000 after buying an additional 939,960 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TREX shares. Jefferies Financial Group cut their price objective on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective on the stock. Benchmark restated a "buy" rating and issued a $80.00 target price on shares of Trex in a report on Monday, March 3rd. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target for the company in a report on Thursday. Finally, Citigroup cut their price target on shares of Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $77.18.

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.

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