Janney Montgomery Scott LLC Acquires 7,521 Shares of Trex Company, Inc. (NYSE:TREX)

Janney Montgomery Scott LLC raised its holdings in Trex Company, Inc. (NYSE:TREX) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,483 shares of the construction company’s stock after purchasing an additional 7,521 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.06% of Trex worth $5,339,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P bought a new stake in shares of Trex during the third quarter worth $27,000. Contravisory Investment Management Inc. bought a new stake in shares of Trex during the fourth quarter worth $28,000. Headinvest LLC bought a new stake in shares of Trex during the third quarter worth $29,000. Larson Financial Group LLC raised its position in shares of Trex by 6,100.0% during the third quarter. Larson Financial Group LLC now owns 682 shares of the construction company’s stock worth $42,000 after acquiring an additional 671 shares during the last quarter. Finally, Vestor Capital LLC bought a new stake in shares of Trex during the fourth quarter worth $47,000. Institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now owns 25,746 shares in the company, valued at $2,340,311.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial lifted their price objective on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Trex in a research note on Tuesday, May 14th. Finally, Barclays lifted their price objective on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.47.

Trex Price Performance

TREX stock opened at $87.90 on Wednesday. The stock has a market capitalization of $9.55 billion, a P/E ratio of 37.73, a P/E/G ratio of 1.93 and a beta of 1.60. The business has a 50-day moving average of $92.76 and a 200-day moving average of $84.82. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.10. The company had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. Trex’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities analysts expect that Trex Company, Inc. will post 2.25 EPS for the current year.

About Trex

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.