Summit Creek Advisors LLC lifted its position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 47.8% in the first quarter, HoldingsChannel.com reports. The firm owned 190,642 shares of the construction company’s stock after purchasing an additional 61,660 shares during the period. Summit Creek Advisors LLC’s holdings in Trex were worth $12,455,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of TREX. UMB Bank N A MO purchased a new stake in shares of Trex during the fourth quarter worth about $32,000. Confluence Wealth Services Inc. purchased a new stake in shares of Trex during the fourth quarter worth about $46,000. Dupont Capital Management Corp purchased a new stake in shares of Trex during the fourth quarter worth about $47,000. GHP Investment Advisors Inc. purchased a new stake in shares of Trex during the first quarter worth about $54,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Trex during the first quarter worth about $55,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.
Trex Stock Up 2.6 %
Shares of TREX opened at $64.61 on Friday. The company has a market capitalization of $7.31 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.48. The firm has a 50 day moving average of $59.13 and a 200 day moving average of $68.47. Trex Company, Inc. has a twelve month low of $49.31 and a twelve month high of $140.98.
Wall Street Analyst Weigh In
TREX has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Trex from $120.00 to $90.00 in a report on Tuesday, May 10th. BNP Paribas upgraded shares of Trex from an “underperform” rating to a “neutral” rating and set a $75.00 price objective for the company in a report on Friday, May 20th. Bank of America initiated coverage on shares of Trex in a report on Monday, April 25th. They issued an “underperform” rating and a $60.00 price objective for the company. Stephens lowered their price objective on shares of Trex to $90.00 and set a “na” rating for the company in a report on Monday, May 16th. Finally, Credit Suisse Group upgraded shares of Trex from an “underperform” rating to a “neutral” rating and set a $65.00 price objective for the company in a report on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Trex has an average rating of “Hold” and an average price target of $87.94.
Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.
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