Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 34,154 shares of the construction company’s stock, valued at approximately $1,198,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Trex during the 4th quarter valued at $27,000. Rothschild Investment LLC bought a new stake in Trex during the 3rd quarter valued at $60,000. Covestor Ltd raised its holdings in Trex by 1,365.4% during the 4th quarter. Covestor Ltd now owns 1,905 shares of the construction company’s stock valued at $67,000 after buying an additional 1,775 shares during the last quarter. Clearstead Advisors LLC raised its holdings in Trex by 91.8% during the 3rd quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock valued at $78,000 after buying an additional 718 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Trex by 662.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,517 shares of the construction company’s stock valued at $78,000 after buying an additional 1,318 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Trex from $40.00 to $44.00 and gave the company a “hold” rating in a report on Monday, May 11th. Zelman & Associates upgraded shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, May 18th. Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and boosted their price objective for the company from $45.00 to $53.00 in a research report on Wednesday, February 25th. Bank of America reduced their price objective on shares of Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Finally, Citigroup reissued a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.42.
Trex Trading Up 0.7%
Shares of Trex stock opened at $39.16 on Friday. The company’s fifty day simple moving average is $38.62 and its two-hundred day simple moving average is $38.31. The company has a market cap of $4.07 billion, a P/E ratio of 21.88, a PEG ratio of 7.94 and a beta of 1.51. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $68.78.
Trex (NYSE:TREX – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $343.40 million for the quarter, compared to the consensus estimate of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. Analysts predict that Trex Company, Inc. will post 1.68 EPS for the current fiscal year.
Trex Profile
Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.
Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.
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