Raymond James Financial Services Advisors Inc. Sells 351 Shares of Trex Company, Inc. (NYSE:TREX)

Raymond James Financial Services Advisors Inc. reduced its stake in Trex Company, Inc. (NYSE:TREX) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,722 shares of the construction company’s stock after selling 351 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Trex were worth $474,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TREX. Bank of Montreal Can increased its stake in Trex by 38.1% in the 1st quarter. Bank of Montreal Can now owns 18,867 shares of the construction company’s stock worth $1,353,000 after purchasing an additional 5,210 shares during the period. D.A. Davidson & CO. purchased a new position in Trex in the 1st quarter worth approximately $204,000. Great West Life Assurance Co. Can increased its stake in Trex by 7.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 62,354 shares of the construction company’s stock worth $4,190,000 after purchasing an additional 4,387 shares during the period. Raymond James Trust N.A. increased its stake in Trex by 23.3% in the 1st quarter. Raymond James Trust N.A. now owns 5,111 shares of the construction company’s stock worth $334,000 after purchasing an additional 966 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Trex by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 883,665 shares of the construction company’s stock worth $57,750,000 after purchasing an additional 11,819 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Down 0.6 %

NYSE TREX opened at $87.45 on Friday. The stock’s 50 day moving average is $94.18 and its 200 day moving average is $79.50. Trex Company, Inc. has a twelve month low of $51.03 and a twelve month high of $101.91. The firm has a market capitalization of $9.50 billion, a PE ratio of 46.27, a P/E/G ratio of 2.02 and a beta of 1.60.

Trex (NYSE:TREX) last released its earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Trex had a return on equity of 31.26% and a net margin of 18.76%. The business had revenue of $195.75 million for the quarter, compared to the consensus estimate of $193.40 million. During the same period in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that Trex Company, Inc. will post 2.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on TREX shares. The Goldman Sachs Group lifted their price target on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. DA Davidson boosted their target price on Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. UBS Group boosted their target price on Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Benchmark boosted their target price on Trex from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Truist Financial boosted their target price on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Trex presently has an average rating of “Hold” and an average price target of $88.72.

Trex 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. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, 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.