GHP Investment Advisors Inc. bought a new position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating ) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 822 shares of the construction company’s stock, valued at approximately $54,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Trex by 4.3% during the fourth quarter. State Street Corp now owns 3,468,578 shares of the construction company’s stock valued at $468,362,000 after purchasing an additional 142,333 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Trex by 3.8% during the first quarter. Conestoga Capital Advisors LLC now owns 1,736,786 shares of the construction company’s stock worth $113,464,000 after buying an additional 63,050 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Trex by 11.5% during the fourth quarter. Blair William & Co. IL now owns 1,545,282 shares of the construction company’s stock valued at $208,659,000 after purchasing an additional 159,729 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Trex by 3.6% during the fourth quarter. Bank of America Corp DE now owns 1,537,172 shares of the construction company’s stock worth $207,564,000 after buying an additional 53,086 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Trex by 0.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,451,395 shares of the construction company’s stock worth $195,982,000 after buying an additional 7,798 shares during the period. 93.63% of the shares are owned by institutional investors.
Analysts set new price targets
A number of brokerages recently commented on TREX. Bank of America initiated coverage on shares of Trex in a report on Monday, April 25th. They set an “underperform” rating and a $60.00 price target on the stock. StockNews.com started coverage on shares of Trex in a report on Thursday, March 31st. They set a “hold” rating on the stock. Exane BNP Paribas upgraded shares of Trex from an “underperform” rating to a “neutral” rating in a report on Friday, May 20th. Truist Financial reduced their price objective on shares of Trex from $120.00 to $90.00 in a report on Tuesday, May 10th. Finally, Loop Capital lowered shares of Trex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $118.00 to $68.00 in a report on Monday, May 25th. april Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $87.94, according to data from MarketBeat.com.
Trex trade up 0.7%
Shares of TREX stock opened at $55.75 on Monday. Trex Company, Inc. it has a one year low of $49.31 and a one year high of $140.98. The firm’s fifty day moving average price is $58.77 and its two hundred day moving average price is $73.73. The firm has a market cap of $6.31 billion, a P/E ratio of 27.74, a PEG ratio of 1.29 and a beta of 1.47.
Trex (NYSE:TREX – Get Rating ) last released its quarterly earnings data on Monday, May 9th. The construction company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $339.23 million for the quarter, compared to analyst estimates of $326.67 million. Trex had a net margin of 17.90% and a return on equity of 38.31%. Trex’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period a year ago, the business earned $0.42 EPS. As a group, equities research analysts predict that Trex Company, Inc. will post 2.47 EPS for the current fiscal year.
Trex Company, Inc manufactures and distributes decking, railings and outdoor living products and accessories for the 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 scratches; Trex Hideaway, a hidden fixing system; and Trex DeckLighting, a dimmable LED deck lighting for use on posts, floors and stairs.
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