Trex Company, Inc. $TREX Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,913,263 shares of the construction company’s stock after buying an additional 24,892 shares during the period. Geode Capital Management LLC owned approximately 1.78% of Trex worth $67,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in TREX. AQR Capital Management LLC increased its holdings in shares of Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after buying an additional 177 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Trex by 91.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after buying an additional 392,715 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Trex by 6.3% in the 2nd quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock valued at $294,000 after purchasing an additional 322 shares during the last quarter. First Trust Advisors LP increased its holdings in Trex by 535.1% in the 2nd quarter. First Trust Advisors LP now owns 22,038 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 18,568 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Trex in the 2nd quarter valued at approximately $1,055,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TREX shares. DA Davidson reiterated a “buy” rating and issued a $51.00 target price on shares of Trex in a report on Friday. Barclays reiterated an “underweight” rating and issued a $36.00 target price (up from $35.00) on shares of Trex in a report on Monday, May 11th. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $53.00 in a report on Wednesday, February 25th. Benchmark downgraded shares of Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Stifel Nicolaus lifted their target price on shares of Trex from $40.00 to $44.00 and gave the company a “hold” rating in a report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.42.

Trex Stock Up 6.1%

NYSE:TREX opened at $42.08 on Tuesday. The company has a fifty day simple moving average of $39.48 and a two-hundred day simple moving average of $38.82. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 8.03 and a beta of 1.51. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $68.78.

Trex (NYSE:TREX) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. Trex had a net margin of 16.25% and a return on equity of 19.66%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, analysts expect that Trex Company, Inc. will post 1.68 EPS for the current year.

Trex 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.