Trex (NYSE:TREX) Shares Gap Up – Time to Buy?

Trex Company, Inc. (NYSE:TREX)’s share price gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TREX. UBS Group decreased their price target on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Truist Financial reduced their price objective on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Citigroup reduced their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Jefferies Financial Group reduced their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $78.63.

Trex Stock Up 4.1 %

The stock has a market cap of $6.63 billion, a PE ratio of 28.24, a P/E/G ratio of 2.51 and a beta of 1.60. The stock has a 50-day moving average of $65.48 and a 200 day moving average of $68.04.

Trex (NYSE:TREX) last posted its earnings results 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 return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the third quarter valued at $30,000. Mather Group LLC. grew its stake in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares in the last quarter. Avior Wealth Management LLC grew its stake in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares in the last quarter. Huntington National Bank grew its stake in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after purchasing an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Trex during the 4th quarter worth $41,000. 95.96% of the stock is owned by institutional investors and hedge funds.

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.