Trex’s (TREX) Buy Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of Trex (NYSE:TREX) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $80.00 target price on the construction company’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Jefferies Financial Group decreased their price target on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. UBS Group reduced their target price on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Truist Financial dropped their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Finally, DA Davidson reiterated a “neutral” rating and set a $74.00 price objective on shares of Trex in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Stock Up 1.0 %

NYSE TREX opened at $58.78 on Monday. The stock has a market cap of $6.30 billion, a PE ratio of 26.84, a P/E/G ratio of 2.51 and a beta of 1.51. Trex has a fifty-two week low of $56.31 and a fifty-two week high of $100.77. The business has a 50 day moving average price of $68.47 and a two-hundred day moving average price of $68.70.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Sell-side analysts anticipate that Trex will post 2.04 EPS for the current fiscal 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 shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now 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 through this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. raised its stake 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 acquiring an additional 3,818,025 shares during the period. Wasatch Advisors LP grew its position in Trex by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock worth $317,505,000 after purchasing an additional 523,113 shares during the last quarter. State Street Corp grew its position in Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Trex by 463.7% in 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 purchasing an additional 2,578,734 shares during the last quarter. Finally, Bamco Inc. NY grew its position in Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock worth $148,631,000 after purchasing an additional 126,441 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.