Credit Suisse AG Sells 13,202 Shares of Trex Company, Inc. (NYSE:TREX)

Posted by on Feb 24th, 2023

Credit Suisse AG lowered its holdings in Trex Company, Inc. (NYSE:TREX – Get Rating) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 240,461 shares of the construction company’s stock after selling 13,202 shares during the quarter. Credit Suisse AG owned approximately 0.22% of Trex worth $10,567,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in Trex by 21.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,795 shares of the construction company’s stock worth $1,881,000 after buying an additional 5,105 shares during the period. Bank of Montreal Can lifted its stake in shares of Trex by 38.1% in the 1st quarter. Bank of Montreal Can now owns 18,867 shares of the construction company’s stock valued at $1,353,000 after purchasing an additional 5,210 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Trex during the first quarter valued at approximately $204,000. Great West Life Assurance Co. Can grew its stake in Trex by 7.6% in the first 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. Finally, Raymond James Trust N.A. raised its holdings in Trex by 23.3% in the first 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 in the last quarter. 94.64% of the stock is currently owned by institutional investors.

Trex Stock Up 0.8 %

Shares of TREX stock opened at $51.51 on Friday. The company has a 50 day moving average price of $49.49 and a 200-day moving average price of $48.15. Trex Company, Inc. has a 52 week low of $38.68 and a 52 week high of $92.93. The firm has a market capitalization of $5.65 billion, a PE ratio of 29.27, a P/E/G ratio of 15.16 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TREX shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Trex from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, January 10th. DA Davidson lowered their target price on shares of Trex to $48.00 in a report on Friday, November 4th. Barclays cut their price target on Trex from $53.00 to $51.00 in a research note on Wednesday, December 14th. Stephens dropped their target price on Trex from $65.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, November 1st. Finally, Stifel Nicolaus reduced their price target on Trex from $68.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, November 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average target price of $63.35.

Trex Company Profile

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Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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