Short Interest in Trex Company, Inc. (NYSE:TREX) Increases By 29.3%

Trex Company, Inc. (NYSE:TREX) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 6,270,000 shares, an increase of 29.3% from the November 30th total of 4,850,000 shares. Currently, 5.9% of the company’s stock are sold short. Based on an average trading volume of 1,390,000 shares, the short-interest ratio is currently 4.5 days.

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its position in shares of Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after buying an additional 1,015,516 shares during the period. State Street Corp raised its position in Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after purchasing an additional 37,436 shares during the period. Geode Capital Management LLC lifted its stake in shares of Trex by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after purchasing an additional 35,039 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Trex by 7.1% during the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after purchasing an additional 122,658 shares during the period. Finally, Geneva Capital Management LLC increased its position in shares of Trex by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company’s stock worth $106,031,000 after purchasing an additional 6,616 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Barclays decreased their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. DA Davidson lifted their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. BMO Capital Markets increased their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group dropped their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

Shares of NYSE TREX opened at $70.30 on Friday. Trex has a one year low of $58.68 and a one year high of $101.91. The firm has a fifty day moving average of $72.04 and a 200 day moving average of $71.34. The firm has a market cap of $7.53 billion, a PE ratio of 32.10, a PEG ratio of 3.50 and a beta of 1.49.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business’s revenue was down 23.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. On average, equities analysts predict that Trex will post 2.05 EPS for the current fiscal year.

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.