Trex's (TREX) "Buy" Rating Reaffirmed at Benchmark

Trex (NYSE:TREX - Get Free Report)'s stock had its "buy" rating restated by Benchmark in a report released on Monday,Benzinga reports. They currently have a $80.00 price target on the construction company's stock. Benchmark's price objective points to a potential upside of 34.48% from the company's previous close.

A number of other analysts also recently issued reports on the company. Truist Financial decreased their price target on Trex from $100.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Citigroup lowered their price target on Trex from $84.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Bank of America cut their price objective on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. DA Davidson restated a "neutral" rating and set a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group dropped their target price on shares of Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $78.38.

Trex Stock Performance

Shares of TREX traded down $2.20 during midday trading on Monday, hitting $59.49. The company had a trading volume of 1,354,659 shares, compared to its average volume of 1,357,276. The company's 50-day simple moving average is $68.96 and its 200-day simple moving average is $68.76. Trex has a 1 year low of $58.68 and a 1 year high of $100.77. The firm has a market capitalization of $6.37 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly 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 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. Equities analysts predict that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction 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 transaction, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.71% of the stock is owned by company insiders.

Institutional Trading of Trex

Several hedge funds have recently made changes to their positions in TREX. Alliancebernstein L.P. raised its holdings in Trex by 54.5% during the fourth 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. Price T Rowe Associates Inc. MD raised its stake in shares of Trex by 463.7% during 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. AustralianSuper Pty Ltd acquired a new stake in shares of Trex in the 4th quarter valued at approximately $110,414,000. Anomaly Capital Management LP boosted its stake in shares of Trex by 228.2% in the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock valued at $104,427,000 after buying an additional 1,051,888 shares in the last quarter. Finally, Wasatch Advisors LP grew its holdings in Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company's stock worth $271,407,000 after acquiring an additional 1,015,516 shares during the period. Institutional investors and hedge funds 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.