Trex Company, Inc. (NYSE:TREX) Shares Bought by Yarbrough Capital LLC

Yarbrough Capital LLC lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,858 shares of the construction company’s stock after acquiring an additional 1,016 shares during the quarter. Yarbrough Capital LLC’s holdings in Trex were worth $1,482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TREX. Atria Wealth Solutions Inc. acquired a new stake in shares of Trex in the 3rd quarter worth approximately $204,000. HighTower Advisors LLC raised its position in Trex by 11.9% in the third quarter. HighTower Advisors LLC now owns 8,873 shares of the construction company’s stock valued at $547,000 after purchasing an additional 943 shares during the period. Loomis Sayles & Co. L P purchased a new position in Trex in the third quarter valued at about $27,000. Rafferty Asset Management LLC raised its position in Trex by 9.4% in the third quarter. Rafferty Asset Management LLC now owns 26,156 shares of the construction company’s stock valued at $1,612,000 after purchasing an additional 2,245 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Trex in the third quarter valued at about $610,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on TREX shares. JPMorgan Chase & Co. raised their price objective on Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Robert W. Baird dropped their target price on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. UBS Group lifted their target price on Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Truist Financial lifted their target price on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, DA Davidson lifted their target price on Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.47.

Trex Stock Performance

Shares of TREX traded down $6.03 during mid-day trading on Friday, reaching $77.99. 3,752,822 shares of the company’s stock traded hands, compared to its average volume of 800,640. The business’s 50-day moving average price is $87.45 and its 200-day moving average price is $87.41. The stock has a market capitalization of $8.48 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The company had revenue of $373.64 million for the quarter, compared to analysts’ expectations of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The business’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Equities research analysts anticipate that Trex Company, Inc. will post 2.26 EPS for the current year.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.