Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 7.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,331 shares of the construction company’s stock after purchasing an additional 1,837 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trex were worth $2,097,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new position in Trex during the 3rd quarter valued at about $27,000. Contravisory Investment Management Inc. purchased a new position in Trex during the 4th quarter valued at about $28,000. Headinvest LLC purchased a new position in Trex during the 3rd quarter valued at about $29,000. Larson Financial Group LLC increased its position in Trex by 6,100.0% during the 3rd quarter. Larson Financial Group LLC now owns 682 shares of the construction company’s stock valued at $42,000 after purchasing an additional 671 shares during the period. Finally, Covestor Ltd increased its position in Trex by 623.8% during the 3rd quarter. Covestor Ltd now owns 941 shares of the construction company’s stock valued at $58,000 after purchasing an additional 811 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of Trex stock opened at $90.17 on Wednesday. Trex Company, Inc. has a 1 year low of $51.03 and a 1 year high of $101.91. The stock has a market cap of $9.79 billion, a PE ratio of 47.71, a price-to-earnings-growth ratio of 2.02 and a beta of 1.60. The firm has a fifty day moving average price of $94.09 and a 200 day moving average price of $80.00.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Trex had a return on equity of 31.26% and a net margin of 18.76%. The business had revenue of $195.75 million during the quarter, compared to analyst estimates of $193.40 million. During the same quarter last year, the business posted $0.23 EPS. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Trex Company, Inc. will post 2.21 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial raised their target price on shares of Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Benchmark lifted their price objective on shares of Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Barclays lifted their price objective on shares of Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $88.72.

Trex 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. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, 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.