Trex Company, Inc. (NYSE:TREX) Holdings Lowered by Laurus Investment Counsel Inc.

Laurus Investment Counsel Inc. reduced its holdings in Trex Company, Inc. (NYSE:TREX) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,780 shares of the construction company’s stock after selling 1,590 shares during the period. Trex comprises about 1.3% of Laurus Investment Counsel Inc.’s holdings, making the stock its 21st largest holding. Laurus Investment Counsel Inc.’s holdings in Trex were worth $2,714,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TREX. Covestor Ltd increased its position in Trex by 178.8% in the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after purchasing an additional 245 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in Trex in the 3rd quarter worth about $27,000. Contravisory Investment Management Inc. acquired a new position in shares of Trex during the 4th quarter valued at about $28,000. Headinvest LLC acquired a new position in shares of Trex during the 3rd quarter valued at about $29,000. Finally, Quarry LP acquired a new position in shares of Trex during the 1st quarter valued at about $31,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TREX shares. JPMorgan Chase & Co. increased their price objective on Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, March 1st. UBS Group increased their target price on Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Benchmark increased their target price on Trex from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Barclays increased their target price on Trex from $74.00 to $86.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. Finally, Truist Financial increased their target price on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.89.

Trex Price Performance

TREX stock opened at $99.30 on Thursday. The business has a fifty day moving average price of $90.93 and a 200 day moving average price of $76.14. Trex Company, Inc. has a fifty-two week low of $45.86 and a fifty-two week high of $101.91. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 52.54, a P/E/G ratio of 2.49 and a beta of 1.58.

Trex (NYSE:TREX) last released its quarterly earnings results 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 firm had revenue of $195.75 million during the quarter, compared to analysts’ expectations of $193.40 million. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Trex Company, Inc. will post 2.22 earnings per share for the current fiscal year.

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.