Mirabella Financial Services LLP acquired a new position in Trex Company, Inc. (NYSE:TREX – Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,968 shares of the construction company’s stock, valued at approximately $290,000.
Several other large investors have also recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in Trex by 178.8% during the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after buying an additional 245 shares in the last quarter. Signaturefd LLC boosted its position in shares of Trex by 175.9% during the 1st quarter. Signaturefd LLC now owns 549 shares of the construction company’s stock valued at $27,000 after purchasing an additional 350 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Trex by 1,346.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 723 shares of the construction company’s stock worth $31,000 after purchasing an additional 673 shares during the last quarter. Ossiam raised its holdings in shares of Trex by 36,666.7% in the 4th quarter. Ossiam now owns 1,103 shares of the construction company’s stock worth $47,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Trex by 105.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,278 shares of the construction company’s stock valued at $54,000 after purchasing an additional 657 shares during the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on TREX shares. Jefferies Financial Group increased their price objective on Trex from $59.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 13th. Truist Financial increased their price target on Trex from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Stephens boosted their price objective on Trex from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, August 1st. Robert W. Baird raised their target price on shares of Trex from $78.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Finally, Barclays lifted their target price on shares of Trex from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average price target of $75.56.
Trex Trading Down 3.6 %
NYSE TREX opened at $70.12 on Wednesday. The company has a market capitalization of $7.61 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.50. Trex Company, Inc. has a 1-year low of $38.68 and a 1-year high of $76.05. The firm’s fifty day simple moving average is $69.56 and its 200-day simple moving average is $59.01.
Trex (NYSE:TREX – Get Free Report) last posted its quarterly earnings results on Monday, July 31st. The construction company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. The company had revenue of $356.54 million during the quarter, compared to the consensus estimate of $318.89 million. Trex had a return on equity of 28.15% and a net margin of 14.62%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. As a group, analysts predict that Trex Company, Inc. will post 1.76 EPS for the current year.
Trex Company Profile
Trex Company, Inc manufactures and distributes composite 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.
- Five stocks we like better than Trex
- How to Start Investing in Real Estate
- 3 Under-Appreciated Stocks with Nowhere to Go But Up
- Are Stock Buybacks Good for the Average Investor?
- These 5 Dividend Aristocrats are Quality Stocks for AI Investing
- Canadian Penny Stocks: Can They Make You Rich?
- 3 Reasons Oshkosh Stock Is Headed to New Heights
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.