Trex Company, Inc. $TREX Stock Position Raised by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 34.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 owned approximately 0.53% of Trex worth $19,921,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Trex during the third quarter valued at approximately $31,000. Rothschild Investment LLC bought a new stake in shares of Trex in the 3rd quarter worth approximately $60,000. Clearstead Advisors LLC lifted its holdings in shares of Trex by 91.8% in the 3rd quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock worth $78,000 after purchasing an additional 718 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Trex by 662.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,517 shares of the construction company’s stock valued at $78,000 after purchasing an additional 1,318 shares during the period. Finally, GAMMA Investing LLC boosted its position in Trex by 37.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,999 shares of the construction company’s stock valued at $103,000 after purchasing an additional 541 shares during the period. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of several analyst reports. The Goldman Sachs Group set a $54.00 target price on Trex and gave the stock a “buy” rating in a research report on Tuesday, December 16th. BMO Capital Markets reissued an “outperform” rating and set a $54.00 price target on shares of Trex in a report on Thursday, January 8th. Citigroup upped their price target on shares of Trex from $39.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Stifel Nicolaus set a $37.50 price objective on shares of Trex and gave the stock a “hold” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Trex in a research report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.78.

Trex Price Performance

Shares of Trex stock opened at $37.31 on Thursday. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78. The business’s fifty day moving average price is $40.88 and its two-hundred day moving average price is $42.21. The company has a market capitalization of $3.88 billion, a P/E ratio of 21.08, a PEG ratio of 8.45 and a beta of 1.58.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $144.39 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, research analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.