Summit Creek Advisors LLC Sells 56,397 Shares of Trex Company, Inc. (NYSE:TREX)

Summit Creek Advisors LLC cut its stake in shares of Trex Company, Inc. (NYSE:TREX) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,223 shares of the construction company’s stock after selling 56,397 shares during the period. Summit Creek Advisors LLC’s holdings in Trex were worth $10,025,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TREX. AustralianSuper Pty Ltd bought a new position in Trex during the 4th quarter valued at $110,414,000. Wasatch Advisors LP lifted its stake in Trex by 33.2% during the 3rd 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. Jacobs Levy Equity Management Inc. lifted its stake in Trex by 6,093.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after acquiring an additional 839,837 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after acquiring an additional 511,163 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after acquiring an additional 435,055 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TREX. DA Davidson reiterated a “neutral” rating and set a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Truist Financial lowered their target price on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, UBS Group lowered their target price on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Stock Down 0.4 %

TREX stock opened at $59.54 on Monday. The firm has a market capitalization of $6.38 billion, a PE ratio of 27.19, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a twelve month low of $52.75 and a twelve month high of $100.77. The stock has a 50-day simple moving average of $65.48 and a two-hundred day simple moving average of $68.04.

Trex (NYSE:TREX) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, equities research analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

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.