Deutsche Bank Aktiengesellschaft Begins Coverage on Trex (NYSE:TREX)

Stock analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Trex (NYSE:TREX) in a research report issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $85.00 price target on the construction company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 41.67% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. UBS Group cut their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group cut 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. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Benchmark reiterated a “buy” rating and set a $80.00 price target on shares of Trex in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.00.

Trex Price Performance

Shares of NYSE TREX opened at $60.00 on Tuesday. Trex has a 1 year low of $52.75 and a 1 year high of $97.69. The stock has a market capitalization of $6.43 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.51 and a beta of 1.60. The company has a 50-day moving average price of $63.73 and a 200-day moving average price of $67.82.

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

Insider Activity at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, valued at $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 available through this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trex

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Trex during the 3rd quarter worth approximately $30,000. Mather Group LLC. grew its position in shares of Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after purchasing an additional 191 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares during the period. Huntington National Bank raised its position in shares of Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after buying an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Trex in the fourth quarter worth $41,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.