Trex (NYSE:TREX) Shares Gap Up – Here’s What Happened

Trex Company, Inc. (NYSE:TREX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $59.43, but opened at $62.53. Trex shares last traded at $63.41, with a volume of 278,115 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Truist Financial dropped their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Benchmark reissued a “buy” rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, March 3rd. DA Davidson reaffirmed a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. Finally, Bank of America reduced their price target on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Trex currently has a consensus rating of “Hold” and an average price target of $78.63.

Trex Stock Performance

The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 2.51 and a beta of 1.60. The business’s 50 day moving average is $65.27 and its 200 day moving average is $68.05.

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

Insider Activity

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in Trex during the third quarter worth $30,000. Mather Group LLC. raised 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 raised its position in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after buying an additional 473 shares during the last quarter. Huntington National Bank lifted its stake in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after buying an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in Trex during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors 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.