Victory Capital Management Inc. Cuts Holdings in Trex Company, Inc. (NYSE:TREX)

Posted by on Aug 5th, 2022

Victory Capital Management Inc. trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 375,015 shares of the construction company’s stock after selling 4,739 shares during the period. Victory Capital Management Inc. owned about 0.33% of Trex worth $23,067,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TREX. Norges Bank purchased a new position in shares of Trex during the 4th quarter worth approximately $193,977,000. Blair William & Co. IL raised its stake in shares of Trex by 11.5% during the 4th quarter. Blair William & Co. IL now owns 1,545,282 shares of the construction company’s stock worth $208,659,000 after buying an additional 159,729 shares in the last quarter. State Street Corp raised its stake in shares of Trex by 4.3% during the 4th quarter. State Street Corp now owns 3,468,578 shares of the construction company’s stock worth $468,362,000 after buying an additional 142,333 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Trex by 55.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 396,540 shares of the construction company’s stock worth $53,545,000 after buying an additional 142,149 shares in the last quarter. Finally, Eventide Asset Management LLC raised its stake in shares of Trex by 12.2% during the 4th quarter. Eventide Asset Management LLC now owns 990,000 shares of the construction company’s stock worth $133,680,000 after buying an additional 108,000 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Down 0.9 %

Shares of Trex stock opened at $63.00 on Friday. Trex Company, Inc. has a fifty-two week low of $49.31 and a fifty-two week high of $140.98. The firm has a market cap of $7.13 billion, a PE ratio of 31.34, a P/E/G ratio of 1.49 and a beta of 1.48. The business’s fifty day moving average is $59.16 and its two-hundred day moving average is $68.73.

Trex (NYSE:TREX – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The construction company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Trex had a return on equity of 38.31% and a net margin of 17.90%. The company had revenue of $339.23 million for the quarter, compared to analyst estimates of $326.67 million. During the same quarter in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities research analysts anticipate that Trex Company, Inc. will post 2.47 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TREX shares. Bank of America started coverage on Trex in a report on Monday, April 25th. They issued an “underperform” rating and a $60.00 price target on the stock. Credit Suisse Group upgraded Trex from an “underperform” rating to a “neutral” rating and set a $65.00 price target on the stock in a report on Tuesday, May 10th. Exane BNP Paribas upgraded Trex from an “underperform” rating to a “neutral” rating in a report on Friday, May 20th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and lowered their price target for the stock from $118.00 to $68.00 in a report on Monday, April 25th. Finally, Barclays lowered their price target on Trex from $68.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.94.

Trex Company Profile

(Get Rating)

Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for 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 names Trex Transcend, Trex Select, 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.

Featured Stories

Institutional Ownership by Quarter for Trex (NYSE:TREX)

Want More Great Investing Ideas?

Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.