Trex (NYSE:TREX) Reaches New 1-Year Low - Here's Why

Shares of Trex Company, Inc. (NYSE:TREX - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $49.01 and last traded at $57.41, with a volume of 2592424 shares trading hands. The stock had previously closed at $50.52.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price target on the stock. UBS Group lowered their price target on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Jefferies Financial Group decreased their price objective on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Benchmark restated a "buy" rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Finally, DA Davidson reiterated a "neutral" rating and issued a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $77.18.

Trex Stock Up 0.2 %

The business's fifty day moving average is $60.02 and its 200 day moving average is $66.85. The stock has a market cap of $5.94 billion, a PE ratio of 25.28, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last posted 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 company had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On Trex

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex during the 3rd quarter worth about $30,000. Mather Group LLC. lifted its position in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after purchasing an additional 191 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after purchasing an additional 473 shares during the period. Huntington National Bank increased its position in shares of Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after acquiring an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Trex during the fourth quarter worth approximately $41,000. 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.