US Bancorp DE grew its position in Trex Company, Inc. (NYSE:TREX – Get Rating) by 12.2% during the third quarter, HoldingsChannel.com reports. The firm owned 16,946 shares of the construction company’s stock after buying an additional 1,843 shares during the quarter. US Bancorp DE’s holdings in Trex were worth $745,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Trex by 178.8% in the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Trex in the second quarter valued at about $26,000. Parallel Advisors LLC lifted its holdings in shares of Trex by 30.4% in the second quarter. Parallel Advisors LLC now owns 773 shares of the construction company’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Trex by 110.0% in the second quarter. Quadrant Capital Group LLC now owns 857 shares of the construction company’s stock valued at $47,000 after purchasing an additional 449 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Trex in the first quarter valued at about $67,000. 94.64% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on TREX. Credit Suisse Group downgraded Trex from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $65.00 to $43.00 in a research report on Friday, October 14th. Stifel Nicolaus lowered their target price on Trex from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 1st. Barclays lowered their target price on Trex from $53.00 to $51.00 in a research report on Wednesday, December 14th. Truist Financial lowered their target price on Trex from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, October 6th. Finally, DA Davidson lowered their target price on Trex to $48.00 in a research report on Friday, November 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.88.
Trex Stock Up 4.0 %
Trex (NYSE:TREX – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Trex had a return on equity of 36.18% and a net margin of 16.39%. The firm had revenue of $188.47 million for the quarter, compared to the consensus estimate of $194.74 million. Equities research analysts expect that Trex Company, Inc. will post 1.77 earnings per share for the current year.
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.
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