Trex (NYSE:TREX) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Trex (NYSE:TREX) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $85.00 price target on the construction company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 47.07% from the stock’s current price.

TREX has been the topic of several other research reports. Bank of America dropped their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. DA Davidson restated a “neutral” rating and set a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Finally, UBS Group reduced 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus price target of $79.00.

Trex Stock Performance

NYSE:TREX traded down $0.31 during mid-day trading on Tuesday, hitting $57.80. The company had a trading volume of 75,752 shares, compared to its average volume of 1,230,670. The firm has a market cap of $6.20 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.51 and a beta of 1.60. Trex has a fifty-two week low of $52.75 and a fifty-two week high of $99.86. The business’s fifty day moving average is $64.27 and its two-hundred day moving average is $67.93.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Equities analysts forecast that Trex will post 2.04 earnings per share 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 on 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 directly owns 1,705 shares of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TREX. Wilmington Savings Fund Society FSB bought a new position in Trex during the third quarter worth about $30,000. Mather Group LLC. lifted its position in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after acquiring an additional 473 shares during the period. Huntington National Bank increased its holdings in shares of Trex by 227.2% during the 4th 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 bought a new stake in Trex in the 4th quarter valued at $41,000. 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.