Pacer Advisors Inc. trimmed its position in Trex Company, Inc. (NYSE:TREX – Free Report) by 10.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,151 shares of the construction company’s stock after selling 2,539 shares during the quarter. Pacer Advisors Inc.’s holdings in Trex were worth $1,568,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. lifted its stake in shares of Trex by 0.3% during the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock worth $3,863,000 after purchasing an additional 119 shares during the last quarter. Covestor Ltd lifted its stake in shares of Trex by 11.3% during the 1st quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after purchasing an additional 123 shares during the last quarter. Harrington Investments INC lifted its stake in shares of Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after purchasing an additional 140 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Trex by 4.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock worth $394,000 after purchasing an additional 173 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of Trex by 2.6% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after purchasing an additional 176 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.
Trex Stock Performance
Shares of TREX stock opened at $67.02 on Friday. The stock’s 50-day simple moving average is $68.45 and its 200-day simple moving average is $80.82. The firm has a market capitalization of $7.29 billion, a PE ratio of 28.76, a P/E/G ratio of 2.37 and a beta of 1.50. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on TREX shares. UBS Group decreased their price objective on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Bank of America reduced their target price on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets reduced their target price on Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Truist Financial reduced their target price on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com raised Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.88.
Get Our Latest Stock Analysis on TREX
Trex Company 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.
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