6,300 Shares in Trex Company, Inc. (NYSE:TREX) Bought by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,300 shares of the construction company’s stock, valued at approximately $467,000.

Other large investors have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of Trex during the 1st quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in shares of Trex during the fourth quarter valued at about $25,000. Sunbelt Securities Inc. boosted its position in shares of Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after purchasing an additional 314 shares in the last quarter. Rise Advisors LLC grew its stake in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after buying an additional 305 shares during the period. Finally, Hantz Financial Services Inc. bought a new stake in Trex in the 2nd quarter valued at about $31,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Performance

NYSE TREX opened at $67.75 on Wednesday. The company has a market capitalization of $7.37 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The company has a 50-day simple moving average of $67.88 and a 200 day simple moving average of $80.22.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same quarter last year, the business posted $0.71 EPS. Trex’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Trex Company, Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Robert W. Baird cut their price target on Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Truist Financial dropped their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and decreased their target price for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Finally, Citigroup dropped their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trex currently has an average 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.