Summit Creek Advisors LLC Acquires 61,660 Shares of Trex Company, Inc. (NYSE:TREX)

Summit Creek Advisors LLC grew its holdings in Trex Company, Inc. (NYSE:TREX – Get Rating) by 47.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 190,642 shares of the construction company’s stock after purchasing an additional 61,660 shares during the period. Summit Creek Advisors LLC owned approximately 0.17% of Trex worth $12,455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TREX. State Street Corp boosted its holdings in shares of Trex by 4.3% during the 4th quarter. State Street Corp now owns 3,468,578 shares of the construction company’s stock valued at $468,362,000 after acquiring an additional 142,333 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of Trex by 3.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,736,786 shares of the construction company’s stock valued at $113,464,000 after acquiring an additional 63,050 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Trex by 11.5% during the 4th quarter. Blair William & Co. IL now owns 1,545,282 shares of the construction company’s stock valued at $208,659,000 after acquiring an additional 159,729 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Trex by 3.6% during the 4th quarter. Bank of America Corp DE now owns 1,537,172 shares of the construction company’s stock valued at $207,564,000 after acquiring an additional 53,086 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Trex by 0.5% during the 4th 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. Institutional investors own 93.63% of the company’s stock.

Trex Stock Up 2.6 %

Shares of NYSE TREX opened at $64.61 on Friday. Trex Company, Inc. has a twelve month low of $49.31 and a twelve month high of $140.98. The stock’s 50 day moving average price is $59.13 and its 200-day moving average price is $68.47. The company has a market capitalization of $7.31 billion, a PE ratio of 32.14, a PEG ratio of 1.46 and a beta of 1.48.

Trex (NYSE:TREX – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The construction company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Trex had a return on equity of 38.31% and a net margin of 17.90%. The business had revenue of $339.23 million for the quarter, compared to the consensus estimate of $326.67 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. Trex’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, research analysts expect that Trex Company, Inc. will post 2.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TREX. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and cut their target price for the stock from $118.00 to $68.00 in a report on Monday, April 25th. Bank of America began coverage on Trex in a report on Monday, April 25th. They set an “underperform” rating and a $60.00 target price on the stock. BNP Paribas raised Trex from an “underperform” rating to a “neutral” rating and set a $75.00 target price on the stock in a report on Friday, May 20th. Truist Financial cut their target price on Trex from $120.00 to $90.00 in a report on Tuesday, May 10th. Finally, Stephens lowered their price objective on Trex to $90.00 and set a “na” rating for the company in a research report on Monday, May 16th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $87.94.

Trex Company Profile

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Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for 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 scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.