Montanaro Asset Management Ltd lowered its position in Trex Company, Inc. (NYSE:TREX – Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 302,462 shares of the construction company’s stock after selling 20,000 shares during the quarter. Trex comprises 3.0% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 14th largest holding. Montanaro Asset Management Ltd owned approximately 0.29% of Trex worth $10,610,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Trex during the 4th quarter valued at $27,000. Clearstead Trust LLC purchased a new position in Trex during the 4th quarter valued at about $33,000. Rothschild Investment LLC purchased a new position in Trex during the 3rd quarter valued at about $60,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Trex during the fourth quarter valued at about $47,000. Finally, Empowered Funds LLC bought a new stake in shares of Trex during the fourth quarter valued at about $50,000. 95.96% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on TREX shares. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $53.00 in a research report on Wednesday, February 25th. Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group reiterated a “buy” rating and issued a $59.00 target price (up from $58.00) on shares of Trex in a research note on Friday, May 8th. Bank of America cut their price target on shares of Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, Barclays reaffirmed an “underweight” rating and issued a $36.00 price target (up from $35.00) on shares of Trex in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.42.
Trex Stock Performance
TREX stock opened at $47.13 on Friday. The company’s 50 day moving average is $41.25 and its 200 day moving average is $39.60. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. Trex Company, Inc. has a 1-year low of $29.77 and a 1-year high of $68.78.
Trex (NYSE:TREX – Get Free Report) last announced its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. Trex’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, sell-side analysts forecast that Trex Company, Inc. will post 1.68 EPS for the current fiscal year.
Trex Profile
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.
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