Trex Company, Inc. $TREX Stake Lifted by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 34.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 567,866 shares of the construction company’s stock after acquiring an additional 145,153 shares during the quarter. DAVENPORT & Co LLC’s holdings in Trex were worth $19,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in Trex by 1.9% in the third quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company’s stock worth $389,795,000 after purchasing an additional 142,215 shares during the period. American Century Companies Inc. increased its position in shares of Trex by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company’s stock valued at $113,233,000 after purchasing an additional 53,554 shares during the period. Wellington Management Group LLP increased its position in shares of Trex by 86.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock valued at $102,002,000 after purchasing an additional 917,448 shares during the period. Impax Asset Management Group plc raised its stake in shares of Trex by 93.0% in the 3rd quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock worth $99,354,000 after buying an additional 932,247 shares in the last quarter. Finally, Madison Asset Management LLC raised its stake in shares of Trex by 1.2% in the 3rd quarter. Madison Asset Management LLC now owns 1,893,081 shares of the construction company’s stock worth $97,815,000 after buying an additional 22,027 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 1.6%

TREX opened at $37.31 on Thursday. The firm has a market cap of $3.88 billion, a PE ratio of 21.08, a P/E/G ratio of 8.45 and a beta of 1.58. The business has a fifty day simple moving average of $40.88 and a 200-day simple moving average of $42.21. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $68.78.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The company had revenue of $161.13 million for the quarter, compared to analyst estimates of $144.39 million. During the same period in the previous year, the firm earned $0.09 earnings per share. Trex’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group raised Trex from a “hold” rating to a “buy” rating and raised their target price for the company from $39.00 to $42.00 in a research note on Monday, December 15th. Barclays boosted their price target on shares of Trex from $32.00 to $39.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 25th. Robert W. Baird set a $48.00 price target on shares of Trex in a report on Monday, January 12th. BMO Capital Markets restated an “outperform” rating and set a $54.00 price objective on shares of Trex in a research report on Thursday, January 8th. Finally, Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $53.00 in a research note on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.78.

About Trex

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.