Trex (NYSE:TREX) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex (NYSE:TREX - Free Report) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $85.00 target price on the construction company's stock.

Several other equities research analysts have also commented on TREX. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. DA Davidson restated a "neutral" rating and issued a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Bank of America decreased their target price on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Finally, Citigroup cut their price target on Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $79.00.

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Trex Stock Performance

Shares of NYSE:TREX traded down $4.55 during midday trading on Tuesday, hitting $55.44. 2,401,297 shares of the stock were exchanged, compared to its average volume of 1,246,528. The business's 50-day moving average price is $63.35 and its 200 day moving average price is $67.74. Trex has a 12 month low of $52.75 and a 12 month high of $97.69. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. As a group, sell-side analysts expect that Trex will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex 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 sale, the director now directly owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company's stock.

Institutional Trading of Trex

Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its stake in Trex by 42.3% in the third quarter. Citigroup Inc. now owns 68,775 shares of the construction company's stock valued at $4,579,000 after purchasing an additional 20,445 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Trex by 227.7% during the 3rd quarter. Bank of Montreal Can now owns 120,162 shares of the construction company's stock valued at $8,158,000 after buying an additional 83,491 shares during the last quarter. FMR LLC lifted its position in shares of Trex by 6.0% during the 3rd quarter. FMR LLC now owns 1,262,920 shares of the construction company's stock valued at $84,085,000 after buying an additional 71,761 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Trex by 12.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,786 shares of the construction company's stock worth $452,000 after acquiring an additional 776 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Trex in the 3rd quarter worth about $206,000. Institutional investors own 95.96% of the company's stock.

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.