Trex (NYSE:TREX) Shares Gap Down to $78.93

Trex Company, Inc. (NYSE:TREX) gapped down prior to trading on Tuesday . The stock had previously closed at $78.93, but opened at $77.19. Trex shares last traded at $75.29, with a volume of 65,116 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. The Goldman Sachs Group boosted their price target on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Trex in a research report on Tuesday, May 14th. Finally, Robert W. Baird dropped their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $89.47.

Trex Stock Performance

The stock has a market cap of $8.11 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.56. The company’s 50 day moving average price is $86.39 and its 200-day moving average price is $87.62.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business’s revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. On average, analysts forecast that Trex Company, Inc. will post 2.26 earnings per share for the current fiscal year.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the transaction, the senior vice president now owns 25,746 shares in the company, valued at $2,340,311.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trex

Several institutional investors have recently added to or reduced their stakes in TREX. V Square Quantitative Management LLC purchased a new stake in Trex during the fourth quarter valued at about $25,000. Mather Group LLC. purchased a new stake in Trex during the first quarter valued at about $26,000. Contravisory Investment Management Inc. purchased a new stake in Trex during the fourth quarter valued at about $28,000. Headinvest LLC purchased a new stake in Trex during the third quarter valued at about $29,000. Finally, Sunbelt Securities Inc. lifted its holdings in Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.