Trex (NYSE:TREX) Trading Up 6.7% – Still a Buy?

Trex Company, Inc. (NYSE:TREX) was up 6.7% during trading on Monday . The company traded as high as $77.46 and last traded at $77.06. Approximately 234,605 shares changed hands during trading, a decline of 77% from the average daily volume of 1,017,560 shares. The stock had previously closed at $72.25.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Bank of America reduced their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and dropped their price target for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Price Performance

The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 3.29 and a beta of 1.49. The firm’s fifty day moving average is $67.94 and its 200 day moving average is $73.18.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. Equities research analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Institutional Trading of Trex

A number of institutional investors have recently added to or reduced their stakes in TREX. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the third quarter worth $30,000. Hantz Financial Services Inc. acquired a new position in Trex during the 2nd quarter valued at $31,000. UMB Bank n.a. raised its stake in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Trex during the 2nd quarter valued at $44,000. Finally, Quarry LP raised its stake in Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.