Larson Financial Group LLC increased its holdings in shares of Trex Company, Inc. (NYSE:TREX – Free Report) by 17.8% during the third quarter, Holdings Channel reports. The fund owned 3,490 shares of the construction company’s stock after acquiring an additional 527 shares during the quarter. Larson Financial Group LLC’s holdings in Trex were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in TREX. OFI Invest Asset Management acquired a new position in Trex in the 2nd quarter valued at $726,000. Wealth Enhancement Advisory Services LLC grew its holdings in Trex by 69.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock valued at $2,073,000 after buying an additional 11,455 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Trex in the 2nd quarter valued at $19,475,000. DekaBank Deutsche Girozentrale grew its holdings in Trex by 33.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock valued at $19,716,000 after buying an additional 50,000 shares in the last quarter. Finally, L & S Advisors Inc acquired a new position in Trex in the 3rd quarter valued at $1,000,000. 95.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TREX shares. Robert W. Baird upped their target price on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Truist Financial cut their target price on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Bank of America cut their target price on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, DA Davidson upped their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.94.
Trex Stock Down 0.9 %
Shares of TREX opened at $74.43 on Thursday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The business has a 50-day simple moving average of $68.30 and a two-hundred day simple moving average of $72.98. The stock has a market cap of $7.97 billion, a PE ratio of 33.99, a PEG ratio of 3.51 and a beta of 1.49.
Trex (NYSE:TREX – Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, equities research analysts expect that Trex Company, Inc. will post 2.05 EPS 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. 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.
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