Lindbrook Capital LLC reduced its holdings of Trex Company, Inc. (NYSE:TREX – Get Rating) stock by 16.1% in Q1, HoldingsChannel reports. The institutional investor owned 1,148 shares of the construction company after selling 220 shares during the period. Lindbrook Capital LLC’s holdings in Trex were worth $75,000 at the end of the most recent reporting period.
Several other hedge funds also changed their positions in TREX. NN Investment Partners Holdings NV acquired a new position in shares of Trex during Q4 worth approximately $26,000. UMB Bank NA MO acquired a new position in Trex in Q4 worth $32,000. Confluence Wealth Services Inc. acquired a new position in Trex in Q4 worth $46,000. Dupont Capital Management Corp acquired a new position in Trex in Q4 worth $47,000. Finally, Baldwin Brothers LLC MA acquired a new position in Trex in Q1 worth $56,000. 93.63% of the shares are held by institutional investors and hedge funds.
Several research companies have recently commented on TREX. Truist Financial reduced its price target on Trex from $120.00 to $90.00 in a Tuesday, May 10 research note. JPMorgan Chase & Co. cut its price target on Trex from $78.00 to $69.00 and set an “underweight” rating for the company in a Wednesday, April 20 research note. Exane BNP Paribas upgraded Trex from an “underperforming” rating to a “neutral” rating in a Friday May 20 research note. Credit Suisse Group upgraded Trex from an “underperforming” rating to a “neutral” rating and set a price target of $65.00 for the company in a Tuesday, May 10 research note. Finally, Barclays lowered its target price on Trex from $84.00 to $68.00 in a Tuesday, May 10 report. Two investment analysts have assigned the stock a sell rating, eleven have assigned a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average price target of $89.12.
NYSE TREX opened at $56.30 on Tuesday. The stock has a market capitalization of $6.37 billion, a PE ratio of 28.01, a P/E/G ratio of 1.30 and a beta of 1.47. Trex Company, Inc. has a 12-month low of $49.31 and a 12-month high of $140.98. The stock has a fifty-day simple moving average of $59.09 and a 200-day simple moving average of $78.52.
Trex (NYSE:TREX – Get Rating) last released its quarterly results on Monday, May 9. The construction company reported earnings per share of $0.62 for the quarter, beating analysts’ consensus estimate of $0.54 by $0.08. The company posted revenue of $339.23 million in the quarter, compared to $326.67 million expected by analysts. Trex had a return on equity of 38.31% and a net margin of 17.90%. The company’s revenue increased by 38.2% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $0.42. Analysts expect Trex Company, Inc. to post EPS of 2.47 for the current fiscal year.
Profile Trex (Get an assessment)
Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the 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 Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.
Further reading
Want to see which other hedge funds hold TREX? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Trex Company, Inc. (NYSE:TREX – Get Rating).
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