Trex (NYSE:TREX) Trading Down 9%


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Trex Company, Inc. (NYSE:TREX) traded down 9% on Tuesday . The stock traded as low as $88.02 and last traded at $91.16. 2,246,948 shares traded hands during trading, an increase of 194% from the average session volume of 765,253 shares. The stock had previously closed at $100.19.

Several brokerages recently issued reports on TREX. Exane BNP Paribas raised Trex from an “underperform” rating to a “neutral” rating and set a $71.00 target price for the company in a research report on Thursday, November 5th. Truist raised their target price on Trex from $73.00 to $100.00 in a research report on Tuesday. UBS Group began coverage on Trex in a research report on Tuesday, December 8th. They set a “buy” rating and a $94.00 target price for the company. Barclays raised their target price on Trex from $82.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, BMO Capital Markets began coverage on Trex in a research report on Wednesday, January 13th. They set a “market perform” rating and a $90.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $80.78.

The company has a 50-day moving average price of $96.23 and a two-hundred day moving average price of $81.02. The stock has a market capitalization of $10.56 billion, a P/E ratio of 62.58 and a beta of 1.46.

Trex (NYSE:TREX) last posted its quarterly earnings data on Sunday, February 21st. The construction company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $228.29 million during the quarter, compared to analyst estimates of $215.99 million. Trex had a return on equity of 35.52% and a net margin of 20.53%. The business’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Equities research analysts expect that Trex Company, Inc. will post 1.54 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Trex by 0.9% in the 4th quarter. BlackRock Inc. now owns 12,197,820 shares of the construction company’s stock valued at $1,021,202,000 after buying an additional 105,744 shares during the period. Alliancebernstein L.P. grew its stake in shares of Trex by 7.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,091,737 shares of the construction company’s stock valued at $342,560,000 after buying an additional 298,570 shares during the period. William Blair Investment Management LLC grew its stake in shares of Trex by 89.5% in the 3rd quarter. William Blair Investment Management LLC now owns 3,838,727 shares of the construction company’s stock valued at $274,853,000 after buying an additional 1,812,852 shares during the period. Wasatch Advisors Inc. grew its stake in shares of Trex by 97.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 3,527,177 shares of the construction company’s stock valued at $252,546,000 after buying an additional 1,737,709 shares during the period. Finally, State Street Corp grew its stake in shares of Trex by 107.1% in the 3rd quarter. State Street Corp now owns 3,431,203 shares of the construction company’s stock valued at $245,674,000 after buying an additional 1,774,143 shares during the period. Institutional investors own 98.56% of the company’s stock.

About Trex (NYSE:TREX)

Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories for residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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