Trex (NYSE:TREX) Lowered to “Hold” Rating by Benchmark

Benchmark lowered shares of Trex (NYSE:TREX) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat.com reports.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group set a $54.00 target price on shares of Trex and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Trex in a research note on Monday, December 29th. UBS Group set a $52.00 price objective on shares of Trex and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Zacks Research upgraded Trex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $54.00 price target on shares of Trex in a research note on Thursday, January 8th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Trex presently has an average rating of “Hold” and an average target price of $47.25.

Trex Stock Performance

Trex stock opened at $44.08 on Wednesday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 23.96 and a beta of 1.58. Trex has a 52-week low of $29.77 and a 52-week high of $70.08. The stock’s 50 day moving average price is $39.00 and its two-hundred day moving average price is $47.16.

Insider Buying and Selling at Trex

In other Trex news, CFO Prithvi Gandhi purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $31.92 per share, with a total value of $478,800.00. Following the transaction, the chief financial officer owned 30,664 shares in the company, valued at $978,794.88. The trade was a 95.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of Trex

Several institutional investors and hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC raised its holdings in shares of Trex by 734.5% in the 3rd quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company’s stock worth $2,033,000 after purchasing an additional 34,825 shares during the period. Lisanti Capital Growth LLC purchased a new stake in Trex in the third quarter worth $3,614,000. Campbell & CO Investment Adviser LLC purchased a new stake in Trex in the second quarter worth $3,015,000. Advantage Alpha Capital Partners LP raised its stake in shares of Trex by 169.2% in the second quarter. Advantage Alpha Capital Partners LP now owns 75,013 shares of the construction company’s stock valued at $4,079,000 after buying an additional 47,143 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Trex by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 906,892 shares of the construction company’s stock valued at $46,859,000 after buying an additional 66,721 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Trex

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.