Monte Financial Group LLC Acquires 3,653 Shares of Trex Company, Inc. (NYSE:TREX)

Monte Financial Group LLC raised its stake in Trex Company, Inc. (NYSE:TREX) by 30.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,597 shares of the construction company’s stock after buying an additional 3,653 shares during the quarter. Monte Financial Group LLC’s holdings in Trex were worth $1,038,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vident Advisory LLC bought a new stake in Trex in the 1st quarter valued at $4,013,000. Comerica Bank lifted its holdings in shares of Trex by 3.8% in the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after purchasing an additional 8,036 shares in the last quarter. Duality Advisers LP boosted its position in shares of Trex by 54.1% during the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock worth $4,756,000 after buying an additional 16,738 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Trex by 28.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock worth $7,746,000 after buying an additional 17,376 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Trex in the 2nd quarter valued at approximately $726,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Truist Financial lowered their price target on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Benchmark reduced their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Robert W. Baird reduced their price target on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.38.

Trex Trading Down 0.1 %

TREX opened at $62.86 on Thursday. The stock’s fifty day simple moving average is $65.15 and its 200 day simple moving average is $76.48. Trex Company, Inc. has a 1-year low of $54.09 and a 1-year high of $101.91. The stock has a market cap of $6.83 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 2.39 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Trex Profile

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.