Trillium Asset Management LLC increased its position in shares of Trex Company, Inc. (NYSE:TREX – Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,699 shares of the construction company’s stock after purchasing an additional 445 shares during the period. Trillium Asset Management LLC’s holdings in Trex were worth $1,684,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Trex by 178.8% in the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after buying an additional 245 shares in the last quarter. Signaturefd LLC raised its position in Trex by 175.9% in the first quarter. Signaturefd LLC now owns 549 shares of the construction company’s stock worth $27,000 after acquiring an additional 350 shares in the last quarter. Quarry LP acquired a new stake in Trex in the 1st quarter valued at about $31,000. Cutler Group LLC CA bought a new position in shares of Trex during the 2nd quarter valued at about $32,000. Finally, Belpointe Asset Management LLC grew its stake in shares of Trex by 120.8% in the 1st quarter. Belpointe Asset Management LLC now owns 797 shares of the construction company’s stock worth $39,000 after purchasing an additional 436 shares during the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently commented on TREX. DA Davidson increased their target price on shares of Trex from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Robert W. Baird raised their price objective on Trex from $78.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Bank of America lifted their target price on Trex from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Stephens reaffirmed an “overweight” rating and set a $85.00 target price on shares of Trex in a report on Friday, September 8th. Finally, Benchmark reissued a “buy” rating and issued a $85.00 price target on shares of Trex in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.76.
Trex Price Performance
Trex stock traded up $0.08 during trading hours on Thursday, hitting $66.50. The company had a trading volume of 32,661 shares, compared to its average volume of 1,039,426. The firm’s fifty day moving average is $60.89 and its 200-day moving average is $62.83. Trex Company, Inc. has a fifty-two week low of $40.69 and a fifty-two week high of $76.05. The firm has a market capitalization of $7.22 billion, a P/E ratio of 37.31, a price-to-earnings-growth ratio of 2.40 and a beta of 1.49.
Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings results on Monday, October 30th. The construction company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The business had revenue of $303.84 million during the quarter, compared to analysts’ expectations of $290.12 million. Trex had a return on equity of 34.43% and a net margin of 17.73%. The firm’s quarterly revenue was up 61.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. Analysts anticipate that Trex Company, Inc. will post 1.85 earnings per share 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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