Conestoga Capital Advisors LLC Purchases 34,720 Shares of Trex Company, Inc. (NYSE:TREX)

Conestoga Capital Advisors LLC grew its position in shares of Trex Company, Inc. (NYSE:TREX) by 1.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,002,468 shares of the construction company’s stock after acquiring an additional 34,720 shares during the period. Trex comprises about 1.8% of Conestoga Capital Advisors LLC’s holdings, making the stock its 22nd largest holding. Conestoga Capital Advisors LLC owned about 1.87% of Trex worth $116,343,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TREX. Huntington National Bank raised its holdings in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after purchasing an additional 393 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Trex by 47.4% in the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after buying an additional 202 shares during the period. GAMMA Investing LLC increased its stake in shares of Trex by 137.7% in the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock worth $97,000 after acquiring an additional 965 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Trex in the 4th quarter worth about $122,000. Finally, Bessemer Group Inc. lifted its position in Trex by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after acquiring an additional 170 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 0.3%

TREX opened at $55.54 on Tuesday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.51 and a beta of 1.52. The firm has a 50 day moving average price of $57.26 and a 200-day moving average price of $63.31. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $86.56.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

TREX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a research note on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price for the company. Stephens reduced their price objective on Trex from $73.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Wall Street Zen downgraded Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. UBS Group reduced their price target on Trex from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered their price target on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $76.65.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the sale, the senior vice president now owns 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, the senior vice president now directly owns 24,569 shares in the company, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

About Trex

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.