Truist Financial Corp raised its position in shares of Trex Company, Inc. (NYSE: TREX – Get Rating) by 6.3% during the first quarter, according to the company in its latest Form 13F filing with the Securities & Exchange Commission. . The institutional investor held 11,842 shares of the construction company after purchasing an additional 699 shares during the quarter. Truist Financial Corp’s holdings in Trex were worth $773,000 at the end of the last reporting period.
Other institutional investors and hedge funds have also recently changed their positions in the company. NN Investment Partners Holdings NV acquired a new stake in Trex during the 4th quarter worth approximately $26,000. UMB Bank NA MO bought a new equity stake in Trex in the fourth quarter valued at around $32,000. Confluence Wealth Services Inc. acquired a new position in shares of Trex during the fourth quarter worth approximately $46,000. Dupont Capital Management Corp bought a new position in shares of Trex during the fourth quarter worth about $47,000. Finally, Baldwin Brothers LLC MA acquired a new stake in Trex in Q1 valued at approximately $56,000. Institutional investors and hedge funds hold 93.63% of the company’s shares.
Analyst upgrades and downgrades
A number of stock analysts have weighed in on TREX shares. Credit Suisse Group has upgraded Trex from an “underperforming” rating to a “neutral” rating and set a $65.00 price target for the company in a Tuesday, May 10 research report. Loop Capital cut 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 Monday 25 research report. april. BNP Paribas upgraded Trex from an “underperforming” rating to a “neutral” rating and set a price target of $75.00 for the company in a Friday May 20 report. JPMorgan Chase & Co. lowered its price target on Trex from $66.00 to $54.00 in a Friday, July 15 report. Finally, StockNews.com began covering Trex in a research note on Thursday, March 31. They issued a “holding” rating for the company. Two financial analysts gave the stock a sell rating, eleven gave the company a hold rating and four gave the company a buy rating. According to MarketBeat, Trex has a consensus rating of “Hold” and a consensus price target of $87.94.
Trex shares down 1.0%
Shares of TREX opened at $61.70 on Monday. Trex Company, Inc. has a 12-month low of $49.31 and a 12-month high of $140.98. The company has a 50-day moving average price of $58.93 and a two-hundred-day moving average price of $71.28. The company has a market capitalization of $6.98 billion, a PE ratio of 30.70, a growth price-earnings ratio of 1.43 and a beta of 1.47.
Trex (NYSE:TREX – Get Rating) last released its quarterly results on Monday, May 9. The construction company reported earnings per share (EPS) of $0.62 for the quarter, beating the consensus estimate of $0.54 by $0.08. The company posted revenue of $339.23 million in the quarter, versus a consensus estimate of $326.67 million. Trex had a return on equity of 38.31% and a net margin of 17.90%. The company’s quarterly revenue increased 38.2% year over year. During the same period of the previous year, the company posted EPS of $0.42. As a group, research analysts expect Trex Company, Inc. to post EPS of 2.47 for the current 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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