Prospera Private Wealth LLC Makes New $1.80 Million Investment in Trex Company, Inc. (NYSE:TREX)

Prospera Private Wealth LLC purchased a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 26,958 shares of the construction company’s stock, valued at approximately $1,795,000.

Several other large investors have also made changes to their positions in TREX. Vanguard Group Inc. boosted its holdings in Trex by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after purchasing an additional 65,428 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Trex in the 1st quarter valued at approximately $536,000. Covestor Ltd lifted its holdings in Trex by 11.3% in 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. O Shaughnessy Asset Management LLC bought a new stake in Trex during the first quarter worth approximately $324,000. Finally, Seven Eight Capital LP acquired a new position in Trex during the first quarter valued at approximately $201,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of research analyst reports. Benchmark lowered their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Barclays cut their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. B. Riley lowered their target price on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group reduced their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Truist Financial dropped their target price on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Two analysts have 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 MarketBeat.com, Trex presently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

TREX opened at $67.43 on Wednesday. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 3.10 and a beta of 1.49. The business’s 50-day moving average price is $67.58 and its two-hundred day moving average price is $73.64. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter last year, the firm earned $0.57 EPS. Trex’s revenue for the quarter was down 23.1% compared to the same quarter last year. Sell-side analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

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.