Trex (NYSE:TREX) Reaches New 1-Year Low – Here’s Why

Trex Company, Inc. (NYSE:TREX) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $54.54 and last traded at $55.11, with a volume of 334197 shares traded. The stock had previously closed at $56.19.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TREX shares. Benchmark restated a “buy” rating and set a $80.00 target price on shares of Trex in a report on Monday, March 3rd. Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Bank of America reduced their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Finally, Citigroup lowered their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $78.63.

Trex Stock Performance

The stock has a 50 day moving average of $67.68 and a two-hundred day moving average of $68.55. The stock has a market cap of $5.82 billion, a PE ratio of 24.78, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity

In related news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TREX. L & S Advisors Inc bought a new stake in Trex during the third quarter valued at about $1,000,000. Algert Global LLC lifted its position in shares of Trex by 81.3% in the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock worth $5,746,000 after acquiring an additional 38,700 shares during the period. Curi RMB Capital LLC increased 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 purchasing an additional 14,558 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of Trex by 237.6% in 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 purchasing an additional 37,362 shares in the last quarter. Finally, Entropy Technologies LP lifted its position in Trex by 287.1% in the third quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock worth $1,119,000 after purchasing an additional 12,468 shares during the period. 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.