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

Trex Company, Inc. (NYSE:TREX - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $57.65 and last traded at $58.18, with a volume of 20554 shares changing hands. The stock had previously closed at $59.57.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America dropped their price target on Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Truist Financial dropped their price target on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and issued a $80.00 price target on shares of Trex in a report on Monday. StockNews.com cut Trex from a "hold" rating to a "sell" rating in a report on Wednesday. Finally, UBS Group dropped their price target on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.63.

Trex Price Performance

The stock has a market capitalization of $6.30 billion, a P/E ratio of 26.84, a PEG ratio of 2.51 and a beta of 1.51. The stock's fifty day moving average is $68.47 and its 200-day moving average is $68.70.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million during the quarter, compared to analysts' expectations of $160.54 million. On average, research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. L & S Advisors Inc acquired a new position in shares of Trex during the third quarter valued at about $1,000,000. Algert Global LLC raised its position in shares of Trex by 81.3% during the third quarter. Algert Global LLC now owns 86,300 shares of the construction company's stock valued at $5,746,000 after buying an additional 38,700 shares during the last quarter. Curi RMB Capital LLC raised its position in shares of Trex by 27.2% during the third quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company's stock valued at $4,537,000 after buying an additional 14,558 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Trex by 237.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company's stock valued at $3,534,000 after buying an additional 37,362 shares during the last quarter. Finally, Entropy Technologies LP raised its position in shares of Trex by 287.1% during the third quarter. Entropy Technologies LP now owns 16,811 shares of the construction company's stock valued at $1,119,000 after buying an additional 12,468 shares during the last quarter. 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.