Peloton Wealth Strategists Acquires 725 Shares of Trex Company, Inc. (NYSE:TREX)

Peloton Wealth Strategists lifted its position in shares of Trex Company, Inc. (NYSE:TREX) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,105 shares of the construction company’s stock after acquiring an additional 725 shares during the period. Peloton Wealth Strategists’ holdings in Trex were worth $2,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP increased its position in shares of Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. State Street Corp increased its position in shares of Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Trex by 0.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock valued at $135,834,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Trex by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after acquiring an additional 35,039 shares in the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Trex during the fourth quarter valued at approximately $110,414,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of Trex stock opened at $60.30 on Friday. The company has a market capitalization of $6.46 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.51 and a beta of 1.51. The company has a fifty day moving average of $69.34 and a 200 day moving average of $68.69. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $100.77.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on TREX. Bank of America reduced their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group dropped their target price on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. DA Davidson restated a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday. Finally, Citigroup dropped their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.38.

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.