Trex Company, Inc. (NYSE:TREX) Shares Sold by Bokf Na

Bokf Na cut its position in shares of Trex Company, Inc. (NYSE:TREX) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,959 shares of the construction company’s stock after selling 1,343 shares during the quarter. Bokf Na’s holdings in Trex were worth $1,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vident Advisory LLC purchased a new stake in shares of Trex in the first quarter worth about $4,013,000. Comerica Bank boosted its position in shares of Trex by 3.8% in the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after buying an additional 8,036 shares during the period. Broad Bay Capital Management LP boosted its position in shares of Trex by 3.8% in the fourth quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock worth $34,358,000 after buying an additional 15,000 shares during the period. Fisher Asset Management LLC boosted its position in shares of Trex by 4.8% in the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after buying an additional 4,534 shares during the period. Finally, Duality Advisers LP boosted its position in shares of Trex by 54.1% in 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. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Up 3.1 %

Shares of NYSE TREX opened at $66.10 on Monday. The stock’s 50 day moving average price is $70.38 and its two-hundred day moving average price is $82.35. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The stock has a market capitalization of $7.18 billion, a P/E ratio of 28.37, a PEG ratio of 2.18 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. On average, analysts anticipate that Trex Company, Inc. will post 2.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group decreased their target price on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets reduced their price target on Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Truist Financial reduced their price target on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Finally, DA Davidson reduced their price target on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus target price of $80.88.

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.