Trex (NYSE:TREX) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Trex Company, Inc. (NYSE:TREXGet Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $41.57 and traded as high as $44.73. Trex shares last traded at $43.4770, with a volume of 1,960,534 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TREX shares. Zelman & Associates upgraded shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 price target (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Citigroup reaffirmed a “neutral” rating and issued a $52.00 price target (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. UBS Group reiterated a “buy” rating and set a $61.00 price objective (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Trex currently has an average rating of “Hold” and an average target price of $49.00.

Check Out Our Latest Report on Trex

Trex Stock Up 2.6%

The firm has a 50 day simple moving average of $44.28 and a 200-day simple moving average of $41.57. The company has a market cap of $4.52 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 5.03 and a beta of 1.46.

Trex (NYSE:TREXGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The business had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Trex Company, Inc. will post 1.78 EPS for the current year.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the sale, the senior vice president owned 36,631 shares of the company’s stock, valued at $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in Trex during the 4th quarter worth approximately $27,000. Clearstead Trust LLC acquired a new position in Trex during the 4th quarter valued at approximately $33,000. Ascentis Independent Advisors purchased a new position in shares of Trex in the first quarter worth $44,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Trex in the fourth quarter worth $47,000. Finally, Empowered Funds LLC acquired a new stake in shares of Trex during the fourth quarter worth $50,000. 95.96% of the stock is owned by institutional investors and hedge funds.

About Trex

(Get Free Report)

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.

Recommended Stories

Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.