• Thu. Aug 11th, 2022

Wedbush Securities Inc. acquires 769 shares of Trex Company, Inc. (NYSE: TREX)

ByLinda W. Smith

Jul 4, 2022

Wedbush Securities Inc. increased its position in Trex Company, Inc. (NYSE:TREX – Get Rating) by 11.3% in the first quarter, HoldingsChannel reports. The company held 7,569 shares of the construction company after buying an additional 769 shares during the quarter. Wedbush Securities Inc.’s holdings in Trex were worth $494,000 when it last filed with the SEC.

A number of other hedge funds have also recently changed their holdings in the company. NN Investment Partners Holdings NV acquired a new stake in Trex in Q4 worth approximately $26,000. UMB Bank NA MO bought a new position in Trex during Q4, valued at around $32,000. Confluence Wealth Services Inc. purchased a new equity stake in Trex in the fourth quarter worth approximately $46,000. Dupont Capital Management Corp acquired a new stake in Trex during the fourth quarter valued at approximately $47,000. Finally, Baldwin Brothers LLC MA bought a new position in Trex during the first quarter worth approximately $56,000. 93.63% of the shares are held by institutional investors and hedge funds.

A number of research companies have recently commented on TREX. Truist Financial cut its price target on Trex shares from $120.00 to $90.00 in a Tuesday, May 10 report. Bank of America assumed coverage for Trex shares in a Monday, April 25, report. They issued an “underperforming” rating and a $60.00 price target on the stock. Exane BNP Paribas downgraded Trex shares from an “underperforming” to a “neutral” rating in a Friday May 20 research note. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and lowered its price target for the company from $118.00 to $68.00 in a Monday, April 25 report. Finally, BNP Paribas upgraded Trex shares from an “underperforming” rating to a “neutral” rating and set a price target of $75.00 on the stock in a Friday, May 20 report. Two investment analysts have assigned the stock a sell rating, eleven have assigned a hold rating and four have assigned the stock a buy rating. According to MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus target price of $89.12.

NYSE:TREX shares opened at $56.30 on Monday. The company’s 50-day moving average is $59.19 and its 200-day moving average is $79.03. The stock has a market capitalization of $6.37 billion, a price/earnings ratio of 28.01, a PEG ratio of 1.30 and a beta of 1.47. Trex Company, Inc. has a 12-month low of $49.31 and a 12-month high of $140.98.

Trex (NYSE:TREX – Get Rating) last released its results on Monday, May 9. The construction company reported EPS of $0.62 for the quarter, beating the consensus estimate of $0.54 by $0.08. Trex had a return on equity of 38.31% and a net margin of 17.90%. The company posted revenue of $339.23 million in the quarter, compared to $326.67 million expected by analysts. In the same period a year earlier, the company had earned earnings per share of $0.42. The company’s revenue increased 38.2% year over year. As a group, analysts expect Trex Company, Inc. to post 2.47 earnings per share for the current year.

Profile Trex (Get a rating)

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.

See also

Want to see which other hedge funds hold TREX? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Trex Company, Inc. (NYSE:TREX – Get Rating).

Institutional ownership by quarter for Trex (NYSE:TREX)



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