Trex (NYSE:TREX) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Trex Company, Inc. (NYSE:TREX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.24 and traded as high as $49.00. Trex shares last traded at $47.6920, with a volume of 1,274,890 shares.

Analysts Set New Price Targets

TREX has been the topic of several research reports. Truist Financial boosted their price target on Trex from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Stifel Nicolaus set a $49.00 price objective on Trex and gave the stock a “hold” rating in a report on Tuesday, August 11th. Citigroup restated a “neutral” rating and set a $52.00 price objective (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. The Goldman Sachs Group restated a “buy” rating and issued a $56.00 target price (up from $49.00) on shares of Trex in a research note on Friday, July 10th. Finally, Stephens raised their target price on Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus target price of $49.30.

Trex Stock Performance

The firm has a 50 day moving average price of $46.57 and a two-hundred day moving average price of $42.24. The company has a market capitalization of $4.96 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 3.43 and a beta of 1.48.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million for the quarter, compared to the consensus estimate of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%.Trex’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. On average, equities analysts expect that Trex Company, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Trex

In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the transaction, the senior vice president directly owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the sale, the senior vice president owned 36,631 shares in the company, valued at $1,831,550. This represents a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Trex

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after buying an additional 177 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Trex by 1.9% during the second quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock worth $611,000 after buying an additional 214 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Trex by 0.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company’s stock worth $1,413,000 after buying an additional 285 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock worth $294,000 after buying an additional 322 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its stake in shares of Trex by 5.4% in the third quarter. Nicolet Advisory Services LLC now owns 9,276 shares of the construction company’s stock valued at $488,000 after acquiring an additional 478 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.