Raymond James Trust N.A. Lowers Position in Trex Company, Inc. (NYSE:TREX)

Posted by on Apr 26th, 2023

Raymond James Trust N.A. trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,137 shares of the construction company’s stock after selling 815 shares during the quarter. Raymond James Trust N.A.’s holdings in Trex were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Balyasny Asset Management LLC boosted its holdings in shares of Trex by 27,936.3% in the third quarter. Balyasny Asset Management LLC now owns 1,429,289 shares of the construction company’s stock worth $62,803,000 after acquiring an additional 1,424,191 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Trex by 119.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,499,081 shares of the construction company’s stock worth $63,456,000 after buying an additional 815,485 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Trex by 424.6% in the first quarter. Renaissance Technologies LLC now owns 804,800 shares of the construction company’s stock worth $52,578,000 after buying an additional 651,400 shares during the period. Two Sigma Investments LP increased its holdings in shares of Trex by 64.5% in the third quarter. Two Sigma Investments LP now owns 1,073,516 shares of the construction company’s stock worth $47,170,000 after buying an additional 420,987 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Trex by 237.5% in the third quarter. Two Sigma Advisers LP now owns 585,900 shares of the construction company’s stock worth $25,744,000 after purchasing an additional 412,300 shares during the last quarter. 94.64% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Down 2.7 %

Shares of Trex stock opened at $53.68 on Wednesday. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 7.43 and a beta of 1.49. The business has a 50-day moving average price of $50.29 and a 200-day moving average price of $48.28. Trex Company, Inc. has a twelve month low of $38.68 and a twelve month high of $67.78.

Trex (NYSE:TREX – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The construction company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Trex had a net margin of 16.69% and a return on equity of 32.97%. The firm had revenue of $192.10 million during the quarter, compared to the consensus estimate of $185.46 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was down 36.8% compared to the same quarter last year. On average, equities analysts expect that Trex Company, Inc. will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TREX shares. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $43.00 price objective on shares of Trex in a research report on Tuesday, February 28th. Loop Capital raised Trex from a “hold” rating to a “buy” rating and increased their price target for the company from $55.00 to $64.00 in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on Trex from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, January 10th. Finally, Robert W. Baird raised their target price on Trex from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.53.

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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