EverSource Wealth Advisors LLC Grows Position in Trex Company, Inc. (NYSE:TREX)

Posted by on May 20th, 2023

EverSource Wealth Advisors LLC boosted its position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 1,346.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 723 shares of the construction company’s stock after acquiring an additional 673 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Trex were worth $31,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TREX. BlackRock Inc. grew its stake in Trex by 1.7% during the 3rd quarter. BlackRock Inc. now owns 10,945,069 shares of the construction company’s stock worth $480,926,000 after buying an additional 182,788 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Trex by 0.8% in the 1st quarter. Clearbridge Investments LLC now owns 4,369,547 shares of the construction company’s stock valued at $285,463,000 after purchasing an additional 34,596 shares during the last quarter. State Street Corp boosted its stake in shares of Trex by 4.9% in the first quarter. State Street Corp now owns 3,637,869 shares of the construction company’s stock valued at $237,662,000 after buying an additional 169,291 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Trex by 7.0% in the first quarter. Wasatch Advisors Inc. now owns 3,385,680 shares of the construction company’s stock valued at $221,186,000 after buying an additional 220,344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake 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 valued at $63,456,000 after buying an additional 815,485 shares in the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TREX shares. Stephens lifted their price objective on Trex from $53.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 28th. StockNews.com started coverage on Trex in a report on Thursday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Trex from $71.00 to $72.00 in a report on Tuesday, May 9th. Bank of America raised Trex from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $54.00 to $66.00 in a report on Tuesday, May 9th. Finally, Benchmark boosted their price target on Trex from $64.00 to $67.00 in a report on Tuesday, May 9th. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.00.

Trex Price Performance

Shares of NYSE TREX opened at $56.56 on Friday. Trex Company, Inc. has a 1-year low of $38.68 and a 1-year high of $67.78. The business has a 50-day moving average of $51.82 and a 200-day moving average of $49.41. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 4.66 and a beta of 1.49.

Trex (NYSE:TREX – Get Rating) last announced its quarterly earnings data on Monday, May 8th. The construction company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. The firm had revenue of $239.00 million for the quarter, compared to analysts’ expectations of $237.65 million. Trex had a return on equity of 30.02% and a net margin of 15.37%. Trex’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Research analysts expect that Trex Company, Inc. will post 1.61 EPS for the current fiscal year.

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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