Natixis Advisors L.P. grew its position in Trex Company, Inc. (NYSE:TREX – Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,062 shares of the construction company’s stock after buying an additional 5,527 shares during the quarter. Natixis Advisors L.P.’s holdings in Trex were worth $2,534,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in TREX. Covestor Ltd increased its holdings in shares of Trex by 178.8% in the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after acquiring an additional 245 shares during the period. Signaturefd LLC increased its holdings in shares of Trex by 175.9% in the 1st quarter. Signaturefd LLC now owns 549 shares of the construction company’s stock valued at $27,000 after acquiring an additional 350 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Trex by 1,346.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 723 shares of the construction company’s stock valued at $31,000 after buying an additional 673 shares in the last quarter. Ossiam boosted its holdings in shares of Trex by 36,666.7% in the 4th quarter. Ossiam now owns 1,103 shares of the construction company’s stock valued at $47,000 after buying an additional 1,100 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Trex by 105.8% in 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. 96.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
TREX has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Trex from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Benchmark increased their price objective on Trex from $67.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. B. Riley increased their price objective on Trex from $64.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. BMO Capital Markets upped their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Trex from $71.00 to $72.00 in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.56.
Trex Stock Performance
TREX opened at $72.75 on Friday. Trex Company, Inc. has a fifty-two week low of $38.68 and a fifty-two week high of $76.05. The company has a fifty day moving average of $69.21 and a two-hundred day moving average of $58.76. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 55.53, a PEG ratio of 3.05 and a beta of 1.52.
Trex (NYSE:TREX – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The construction company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. The company had revenue of $356.54 million during the quarter, compared to analysts’ expectations of $318.89 million. Trex had a net margin of 14.62% and a return on equity of 28.15%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. On average, equities research analysts forecast that Trex Company, Inc. will post 1.76 earnings per share 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. 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.
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