Trex Company, Inc. (NYSE:TREX) Shares Acquired by Malaga Cove Capital LLC

Malaga Cove Capital LLC boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 27.6% in the 4th quarter, HoldingsChannel reports. The fund owned 19,444 shares of the construction company’s stock after acquiring an additional 4,204 shares during the period. Malaga Cove Capital LLC’s holdings in Trex were worth $1,610,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TREX. Redwood Investments LLC purchased a new stake in Trex in the fourth quarter valued at $2,271,000. WCM Investment Management LLC boosted its holdings in shares of Trex by 9.4% in the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock valued at $21,027,000 after acquiring an additional 21,486 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Trex during the third quarter worth approximately $4,053,000. Motley Fool Wealth Management LLC purchased a new stake in Trex in the 4th quarter valued at $8,590,000. Finally, Quantbot Technologies LP grew its position in Trex by 81.8% during the 3rd quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company’s stock worth $3,937,000 after purchasing an additional 28,746 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Up 2.2 %

Shares of TREX traded up $1.94 during mid-day trading on Friday, reaching $92.01. 623,783 shares of the company’s stock were exchanged, compared to its average volume of 549,571. Trex Company, Inc. has a 52-week low of $51.03 and a 52-week high of $101.91. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 48.68, a PEG ratio of 2.06 and a beta of 1.60. The company has a 50-day simple moving average of $93.85 and a two-hundred day simple moving average of $81.84.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $195.75 million during the quarter, compared to the consensus estimate of $193.40 million. Trex had a return on equity of 31.26% and a net margin of 18.76%. Trex’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. As a group, equities research analysts predict that Trex Company, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TREX shares. JPMorgan Chase & Co. upped their target price on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, March 1st. DA Davidson lifted their price objective on shares of Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Benchmark lifted their target price on shares of Trex from $85.00 to $105.00 and gave the company a “buy” rating in a report on Friday, March 1st. Barclays boosted their price target on shares of Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research note on Thursday, April 4th. Finally, Truist Financial raised their price objective on shares of Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.72.

Trex Company Profile

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.