Short Interest in Trex Company, Inc. (NYSE:TREX) Expands By 29.3%

Trex Company, Inc. (NYSE:TREX) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 6,270,000 shares, a growth of 29.3% from the November 30th total of 4,850,000 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is currently 4.5 days. Approximately 5.9% of the company’s shares are short sold.

Institutional Investors Weigh In On Trex

Several hedge funds and other institutional investors have recently bought and sold shares of TREX. Wilmington Savings Fund Society FSB purchased a new stake in Trex in the third quarter valued at approximately $30,000. Hantz Financial Services Inc. purchased a new position in Trex during the 2nd quarter worth $31,000. UMB Bank n.a. raised its holdings in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after buying an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex during the second quarter worth about $44,000. Finally, Quarry LP grew its holdings in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TREX shares. Jefferies Financial Group cut their price objective on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. DA Davidson lifted their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Barclays reduced their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, BMO Capital Markets boosted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Two 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’s stock. According to data from MarketBeat, Trex currently has an average rating of “Hold” and an average target price of $79.94.

Trex Stock Performance

NYSE:TREX opened at $70.30 on Friday. Trex has a 1 year low of $58.68 and a 1 year high of $101.91. The stock has a market cap of $7.53 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.50 and a beta of 1.49. The stock has a 50-day simple moving average of $72.04 and a 200-day simple moving average of $71.34.

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

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.