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

Trex Company, Inc. (NYSE:TREX) shares gapped up before the market opened 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TREX shares. JPMorgan Chase & Co. dropped their price objective on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. UBS Group dropped their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Bank of America dropped their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Citigroup dropped their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Jefferies Financial Group dropped their price target on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Two investment 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.63.

Trex Stock Performance

The firm has a fifty day moving average price of $65.48 and a 200 day moving average price of $68.04. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trex

Hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in Trex during the third quarter worth $30,000. Mather Group LLC. increased its position in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC increased its position in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank increased its position in Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after buying an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in Trex during the fourth quarter worth $41,000. Hedge funds and other institutional investors 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.