Trex (NYSE:TREX) Hits New 12-Month High at $90.24

Trex Company, Inc. (NYSE:TREXGet Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $90.24 and last traded at $89.28, with a volume of 307200 shares trading hands. The stock had previously closed at $83.19.

Analyst Upgrades and Downgrades

TREX has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Trex in a report on Tuesday, October 31st. Stifel Nicolaus increased their price objective on shares of Trex from $82.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Wolfe Research began coverage on Trex in a report on Tuesday, December 12th. They set a “peer perform” rating on the stock. Barclays downgraded Trex from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $66.00 to $74.00 in a research report on Wednesday, December 13th. Finally, JPMorgan Chase & Co. upgraded Trex from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $62.00 to $79.00 in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.89.

Get Our Latest Stock Report on TREX

Trex Stock Up 0.5 %

The firm has a market capitalization of $9.82 billion, a PE ratio of 50.78, a P/E/G ratio of 2.71 and a beta of 1.58. The firm’s 50-day moving average price is $80.41 and its two-hundred day moving average price is $70.58.

Institutional Investors Weigh In On Trex

Institutional investors have recently bought and sold shares of the business. MAI Capital Management increased its stake in shares of Trex by 5.6% in the second quarter. MAI Capital Management now owns 4,352 shares of the construction company’s stock worth $285,000 after acquiring an additional 230 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Trex by 81.8% during the 3rd quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company’s stock valued at $3,937,000 after buying an additional 28,746 shares during the last quarter. Malaga Cove Capital LLC grew its stake in shares of Trex by 11.4% in the 3rd quarter. Malaga Cove Capital LLC now owns 15,240 shares of the construction company’s stock valued at $939,000 after buying an additional 1,559 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Trex by 101.6% in the second quarter. Point72 Asset Management L.P. now owns 1,344,802 shares of the construction company’s stock worth $88,165,000 after buying an additional 677,801 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in Trex during the third quarter valued at approximately $319,000. 96.42% of the stock is currently owned by institutional investors and hedge funds.

Trex Company Profile

(Get Free Report)

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.

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