Trex (NYSE:TREX) Sets New 52-Week Low – Time to Sell?

Trex Company, Inc. (NYSE:TREX) hit a new 52-week low during trading on Tuesday . The company traded as low as $57.65 and last traded at $58.18, with a volume of 20554 shares changing hands. The stock had previously closed at $59.57.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of recent research reports. UBS Group dropped their target price on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Citigroup lowered their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of Trex in a research report on Monday. Finally, Jefferies Financial Group lowered their price objective on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.38.

Trex Stock Performance

The company has a 50 day moving average of $68.73 and a 200 day moving average of $68.73. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping 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 business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. On average, equities analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction 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. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of Trex

Hedge funds and other institutional investors have recently modified their holdings of the business. Xponance Inc. grew its position in Trex by 0.7% in the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock valued at $1,491,000 after acquiring an additional 143 shares in the last quarter. Principal Securities Inc. grew its position in Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after acquiring an additional 147 shares in the last quarter. Pacer Advisors Inc. grew its position in Trex by 0.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after acquiring an additional 148 shares in the last quarter. Harrington Investments INC grew its position in Trex by 1.8% in the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock valued at $629,000 after acquiring an additional 159 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Trex by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after acquiring an additional 170 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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.