Red Spruce Capital LLC lifted its position in Trex Company, Inc. (NYSE:TREX – Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,082 shares of the construction company’s stock after buying an additional 375 shares during the quarter. Red Spruce Capital LLC’s holdings in Trex were worth $923,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Laurus Investment Counsel Inc. raised its stake in Trex by 3.4% in the first quarter. Laurus Investment Counsel Inc. now owns 45,156 shares of the construction company’s stock valued at $2,975,941,000 after buying an additional 1,470 shares during the period. Sei Investments Co. raised its stake in Trex by 67.8% in the 1st quarter. Sei Investments Co. now owns 606,480 shares of the construction company’s stock valued at $29,517,000 after acquiring an additional 245,065 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in Trex by 84.3% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 20,650 shares of the construction company’s stock valued at $874,000 after purchasing an additional 9,448 shares during the last quarter. First National Bank of Hutchinson bought a new position in Trex during the first quarter worth $379,000. Finally, New Mexico Educational Retirement Board raised its position in shares of Trex by 11.8% in the first quarter. New Mexico Educational Retirement Board now owns 19,900 shares of the construction company’s stock valued at $969,000 after purchasing an additional 2,100 shares during the period. 96.42% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently commented on TREX shares. Bank of America lifted their target price on shares of Trex from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Robert W. Baird upped their price target on shares of Trex from $78.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Stephens restated an “overweight” rating and set a $85.00 target price on shares of Trex in a research report on Friday, September 8th. DA Davidson raised their price objective on Trex from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus increased their target price on Trex from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.94.
Trex Price Performance
TREX stock traded up $0.86 during trading on Thursday, reaching $66.61. 129,394 shares of the company were exchanged, compared to its average volume of 1,015,324. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 50.19, a P/E/G ratio of 3.07 and a beta of 1.50. The company has a 50-day moving average of $69.95 and a two-hundred day moving average of $59.66. Trex Company, Inc. has a twelve month low of $38.68 and a twelve month high of $76.05.
Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings results on Monday, July 31st. The construction company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. Trex had a net margin of 14.62% and a return on equity of 28.15%. The company had revenue of $356.54 million during the quarter, compared to the consensus estimate of $318.89 million. During the same period in the prior year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts forecast 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.
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