Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Trex Company, Inc. (NYSE:TREX)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 7.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,331 shares of the construction company’s stock after purchasing an additional 1,837 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trex were worth $2,097,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TREX. Redwood Investments LLC purchased a new stake in shares of Trex during the fourth quarter worth $2,271,000. WCM Investment Management LLC increased its position in shares of Trex by 9.4% during the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock worth $21,027,000 after acquiring an additional 21,486 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Trex during the third quarter worth $4,053,000. Quantbot Technologies LP increased its position in shares of Trex by 81.8% during the third quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company’s stock worth $3,937,000 after acquiring an additional 28,746 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of Trex during the third quarter worth $6,326,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

TREX has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Truist Financial boosted their target price on shares of Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Benchmark boosted their target price on shares of Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. DA Davidson boosted their target price on shares of Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Finally, UBS Group boosted their target price on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus price target of $88.72.

Trex Stock Performance

Shares of NYSE:TREX opened at $90.17 on Wednesday. The company has a 50-day simple moving average of $94.09 and a 200-day simple moving average of $80.00. Trex Company, Inc. has a one year low of $51.03 and a one year high of $101.91. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 2.02 and a beta of 1.60.

Trex (NYSE:TREX) last announced its earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Trex had a net margin of 18.76% and a return on equity of 31.26%. The business had revenue of $195.75 million during the quarter, compared to analysts’ expectations of $193.40 million. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that Trex Company, Inc. will post 2.21 EPS for the current fiscal 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. 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.