MAI Capital Management Purchases Shares of 4,122 Trex Company, Inc. (NYSE:TREX)

MAI Capital Management purchased a new stake in Trex Company, Inc. (NYSE:TREX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,122 shares of the construction company’s stock, valued at approximately $201,000.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd raised its position in shares of Trex by 178.8% in the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after acquiring an additional 245 shares in the last quarter. Signaturefd LLC raised its holdings in Trex by 175.9% in the first quarter. Signaturefd LLC now owns 549 shares of the construction company’s stock worth $27,000 after purchasing an additional 350 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Trex by 1,346.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 723 shares of the construction company’s stock worth $31,000 after purchasing an additional 673 shares in the last quarter. Ossiam lifted its position in Trex by 36,666.7% during the fourth quarter. Ossiam now owns 1,103 shares of the construction company’s stock valued at $47,000 after buying an additional 1,100 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Trex by 105.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,278 shares of the construction company’s stock valued at $54,000 after buying an additional 657 shares in the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of TREX opened at $68.53 on Friday. The firm has a market capitalization of $7.44 billion, a P/E ratio of 52.31, a PEG ratio of 3.09 and a beta of 1.52. Trex Company, Inc. has a one year low of $38.68 and a one year high of $76.05. The business has a fifty day moving average of $68.09 and a 200 day moving average of $58.23.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 31st. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. Trex had a return on equity of 28.15% and a net margin of 14.62%. The business had revenue of $356.54 million during the quarter, compared to the consensus estimate of $318.89 million. During the same period in the previous year, the company posted $0.79 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Analysts expect that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TREX has been the subject of several research reports. Benchmark increased their price target on shares of Trex from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. B. Riley lifted their target price on shares of Trex from $64.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. BMO Capital Markets boosted their price target on Trex from $70.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus raised their price objective on Trex from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, TheStreet raised Trex from a “c+” rating to a “b-” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.56.

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. 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.