GHP Investment Advisors Inc. bought a new position in shares of Trex Company, Inc. (NYSE: TREX – Get Rating) during the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The company bought 822 shares of the construction company, valued at around $54,000.
A number of other hedge funds and other institutional investors have also recently changed their positions in the company. State Street Corp increased its position in Trex shares by 4.3% during the fourth quarter. State Street Corp now owns 3,468,578 shares of the construction company worth $468,362,000 after buying an additional 142,333 shares last quarter. Conestoga Capital Advisors LLC increased its position in Trex shares by 3.8% during the first quarter. Conestoga Capital Advisors LLC now owns 1,736,786 shares of the construction company worth $113,464,000 after purchasing an additional 63,050 shares last quarter. Blair William & Co. IL increased its position in shares of Trex by 11.5% during the fourth quarter. Blair William & Co. IL now owns 1,545,282 shares of the construction company worth $208,659,000 after buying an additional 159,729 shares last quarter. Bank of America Corp DE increased its position in shares of Trex by 3.6% during the fourth quarter. Bank of America Corp DE now owns 1,537,172 shares of the construction company worth $207,564,000 after buying an additional 53,086 shares last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings of Trex shares by 0.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,451,395 shares of the construction company worth $195,982,000 after acquiring an additional 7,798 shares during the period. 93.63% of the shares are held by institutional investors.
Analysts set new price targets
A number of brokerages have recently commented on TREX. Bank of America began covering Trex shares in a Monday, April 25, report. They set an “underperforming” rating and a price target of $60.00 for the stock. StockNews.com began covering Trex shares in a report on Thursday, March 31. They have placed a “holding” rating on the stock. Exane BNP Paribas upgraded Trex shares from an “underperforming” rating to a “neutral” rating in a Friday May 20 report. Truist Financial lowered its price target on shares of Trex from $120.00 to $90.00 in a Tuesday, May 10 report. Finally, Loop Capital downgraded Trex shares from a “buy” rating to a “hold” rating and lowered its price target for the stock from $118.00 to $68.00 in a report on Monday 25 april. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned the company a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.94.
Trex trades up 0.7%
Shares of TREX opened at $55.75 on Monday. Trex Company, Inc. has a 1-year low of $49.31 and a 1-year high of $140.98. The company’s fifty-day moving average price is $58.77 and its two-hundred-day moving average price is $73.73. The company has a market capitalization of $6.31 billion, a P/E ratio of 27.74, a PEG ratio of 1.29 and a beta of 1.47.
Trex (NYSE:TREX – Get Rating) last released quarterly earnings data on Monday, May 9. The construction company reported earnings per share of $0.62 for the quarter, beating the consensus estimate of $0.54 by $0.08. The company posted revenue of $339.23 million for the quarter, versus analyst estimates of $326.67 million. Trex had a net margin of 17.90% and a return on equity of 38.31%. Trex’s revenue for the quarter increased 38.2% over the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.42. As a group, equity research analysts expect Trex Company, Inc. to post EPS of 2.47 for the current fiscal year.
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Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the 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 Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.
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