Trex Company, Inc. (NYSE:TREX) Shares Acquired by Arizona State Retirement System

Posted by on May 13th, 2023

Arizona State Retirement System grew its holdings in Trex Company, Inc. (NYSE:TREX – Get Rating) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,114 shares of the construction company’s stock after purchasing an additional 352 shares during the period. Arizona State Retirement System’s holdings in Trex were worth $1,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in Trex by 21.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,795 shares of the construction company’s stock worth $1,881,000 after acquiring an additional 5,105 shares in the last quarter. Bank of Montreal Can lifted its stake in Trex by 38.1% during the 1st quarter. Bank of Montreal Can now owns 18,867 shares of the construction company’s stock worth $1,353,000 after acquiring an additional 5,210 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Trex during the 1st quarter worth about $204,000. Great West Life Assurance Co. Can lifted its stake in Trex by 7.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 62,354 shares of the construction company’s stock worth $4,190,000 after acquiring an additional 4,387 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Trex by 23.3% during the 1st quarter. Raymond James Trust N.A. now owns 5,111 shares of the construction company’s stock worth $334,000 after acquiring an additional 966 shares in the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.

Trex Stock Performance

TREX opened at $56.64 on Friday. Trex Company, Inc. has a one year low of $38.68 and a one year high of $67.78. The company has a market cap of $6.16 billion, a P/E ratio of 34.75, a PEG ratio of 7.55 and a beta of 1.49. The business’s 50-day simple moving average is $51.19 and its 200-day simple moving average is $49.09.

Trex (NYSE:TREX – Get Rating) last released its quarterly earnings data on Monday, May 8th. The construction company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $239.00 million for the quarter, compared to the consensus estimate of $237.65 million. Trex had a return on equity of 29.86% and a net margin of 15.37%. The business’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, analysts predict that Trex Company, Inc. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird increased their target price on Trex from $58.00 to $62.00 in a research note on Tuesday. Benchmark increased their target price on Trex from $64.00 to $67.00 in a research note on Tuesday. Loop Capital increased their target price on Trex from $64.00 to $65.00 in a research note on Tuesday. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, Stephens upped their price target on Trex from $53.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Trex has an average rating of “Hold” and an average price target of $62.00.

Trex 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.

Further Reading

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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