Trex (NYSE:TREX) Given Buy Rating at Benchmark

Trex (NYSE:TREX)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a report issued on Monday,Benzinga reports. They presently have a $80.00 target price on the construction company’s stock. Benchmark’s price objective suggests a potential upside of 28.95% from the stock’s previous close.

TREX has been the topic of several other research reports. Truist Financial decreased their price objective on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. UBS Group decreased their price target on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Bank of America dropped their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. DA Davidson reiterated a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. Finally, Citigroup dropped their price target 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $78.38.

Trex Trading Up 0.6 %

NYSE:TREX traded up $0.35 during trading hours on Monday, hitting $62.04. 29,928 shares of the company traded hands, compared to its average volume of 1,323,480. Trex has a twelve month low of $58.68 and a twelve month high of $100.77. The firm has a 50-day moving average of $68.96 and a 200 day moving average of $68.70. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS 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 business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Equities research analysts predict that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the 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 sale, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TREX. International Assets Investment Management LLC raised its position in shares of Trex by 7,363.6% during the third quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock worth $164,000 after acquiring an additional 2,430 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Trex by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock worth $841,000 after purchasing an additional 855 shares during the last quarter. US Bancorp DE lifted its position in Trex by 23.8% during the 3rd quarter. US Bancorp DE now owns 13,675 shares of the construction company’s stock valued at $910,000 after purchasing an additional 2,629 shares during the period. Stephens Inc. AR boosted its stake in shares of Trex by 7.1% in the 3rd quarter. Stephens Inc. AR now owns 5,693 shares of the construction company’s stock valued at $379,000 after purchasing an additional 375 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Trex by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 81,726 shares of the construction company’s stock valued at $5,137,000 after purchasing an additional 23,351 shares during the last quarter. Institutional investors and hedge funds 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.