Trex (NYSE:TREX) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex (NYSE:TREX) in a report published on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $85.00 target price on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and set a $74.00 price objective on shares of Trex in a research report on Tuesday, February 25th. Jefferies Financial Group lowered their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Citigroup reduced their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Finally, Truist Financial reduced their price target on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.00.

Trex Price Performance

Shares of Trex stock opened at $58.42 on Tuesday. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.51 and a beta of 1.60. The firm’s 50-day moving average is $63.98 and its two-hundred day moving average is $67.88. Trex has a 1 year low of $52.75 and a 1 year high of $97.69.

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

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the 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 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 is accessible through this link. 0.71% of the stock is owned by insiders.

Institutional Trading of Trex

A number of hedge funds have recently modified their holdings of TREX. Xponance Inc. raised its position in Trex by 0.7% during the fourth 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 stake in shares of Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock worth $213,000 after purchasing an additional 147 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Trex by 0.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after purchasing an additional 148 shares in the last quarter. Harrington Investments INC lifted its stake in shares of 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 purchasing an additional 159 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock worth $140,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.