Trex (NYSE:TREX) Stock Price Up 6.7% – Should You Buy?

Trex Company, Inc. (NYSE:TREX) shares rose 6.7% during trading on Monday . The company traded as high as $77.46 and last traded at $77.06. Approximately 234,605 shares changed hands during trading, a decline of 77% from the average daily volume of 1,017,560 shares. The stock had previously closed at $72.25.

Wall Street Analyst Weigh In

TREX has been the subject of a number of recent research reports. Jefferies Financial Group lowered their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Benchmark lowered their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and reduced their target price for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Barclays lowered their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Trading Down 0.9 %

The company has a market cap of $7.97 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 3.51 and a beta of 1.49. The firm has a 50-day moving average price of $68.30 and a 200 day moving average price of $72.98.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. Research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank lifted its stake in Trex by 3.8% in the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after buying an additional 8,036 shares during the last quarter. OFI Invest Asset Management bought a new position in Trex in the 2nd quarter worth about $726,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Trex by 69.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock valued at $2,073,000 after purchasing an additional 11,455 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Trex during the second quarter valued at approximately $19,475,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Trex by 33.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock worth $19,716,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.