Pier Capital LLC Buys 18,697 Shares of Trex Company, Inc. $TREX

Pier Capital LLC increased its stake in Trex Company, Inc. (NYSE:TREX) by 33.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,805 shares of the construction company’s stock after acquiring an additional 18,697 shares during the quarter. Pier Capital LLC owned about 0.07% of Trex worth $3,814,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TREX. Steigerwald Gordon & Koch Inc. bought a new position in Trex during the 3rd quarter worth approximately $31,000. Rothschild Investment LLC bought a new stake in shares of Trex in the 3rd quarter valued at $60,000. Clearstead Advisors LLC increased its position in shares of Trex by 91.8% during the third quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock worth $78,000 after buying an additional 718 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Trex by 662.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,517 shares of the construction company’s stock worth $78,000 after buying an additional 1,318 shares during the period. Finally, GAMMA Investing LLC raised its stake in Trex by 37.1% during the third quarter. GAMMA Investing LLC now owns 1,999 shares of the construction company’s stock worth $103,000 after buying an additional 541 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TREX has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Trex in a report on Monday, December 29th. Barclays increased their price target on Trex from $32.00 to $39.00 and gave the stock an “underweight” rating in a report on Wednesday, February 25th. Robert W. Baird set a $48.00 price objective on Trex in a research note on Monday, January 12th. Benchmark lowered Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Zacks Research raised Trex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.78.

Trex Trading Down 2.3%

NYSE:TREX opened at $37.30 on Friday. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 8.77 and a beta of 1.58. The firm has a fifty day simple moving average of $41.25 and a two-hundred day simple moving average of $43.92. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $68.78.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $161.13 million for the quarter, compared to analyst estimates of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.