Trex Company, Inc. (NYSE:TREX) Short Interest Up 29.3% in December

Trex Company, Inc. (NYSE:TREX) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 6,270,000 shares, a growth of 29.3% from the November 30th total of 4,850,000 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is currently 4.5 days. Currently, 5.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On Trex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Trex by 97.6% during the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after buying an additional 393,850 shares during the period. American Trust increased its holdings in Trex by 7.9% during the 3rd quarter. American Trust now owns 3,367 shares of the construction company’s stock worth $224,000 after acquiring an additional 246 shares during the period. Tidal Investments LLC lifted its stake in Trex by 73.1% in the 3rd quarter. Tidal Investments LLC now owns 14,836 shares of the construction company’s stock worth $988,000 after purchasing an additional 6,263 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Trex in the 3rd quarter valued at $30,000. Finally, Virtu Financial LLC grew its position in shares of Trex by 29.2% during the 3rd quarter. Virtu Financial LLC now owns 12,566 shares of the construction company’s stock valued at $837,000 after purchasing an additional 2,838 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TREX. BMO Capital Markets raised their target price on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Robert W. Baird raised their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Barclays dropped their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Finally, DA Davidson lifted their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Shares of NYSE:TREX opened at $69.23 on Tuesday. The company has a market capitalization of $7.42 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. Trex has a 1 year low of $58.68 and a 1 year high of $101.91. The business has a fifty day moving average price of $72.17 and a two-hundred day moving average price of $71.05.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the previous year, the firm posted $0.57 EPS. Trex’s revenue was down 23.1% on a year-over-year basis. Sell-side analysts anticipate that Trex will post 2.05 earnings per share for the current year.

About Trex

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.