Ieq Capital LLC Acquires Shares of 78,944 Trex Company, Inc. $TREX

Ieq Capital LLC bought a new position in Trex Company, Inc. (NYSE:TREX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 78,944 shares of the construction company’s stock, valued at approximately $3,950,000.

Several other hedge funds have also recently made changes to their positions in TREX. Clearstead Trust LLC bought a new position in shares of Trex during the 4th quarter worth $33,000. Ascentis Independent Advisors bought a new stake in Trex in the 1st quarter valued at about $44,000. Eurizon Capital SGR S.p.A. bought a new stake in Trex in the 4th quarter valued at about $47,000. Empowered Funds LLC purchased a new stake in Trex during the fourth quarter valued at about $50,000. Finally, Versant Capital Management Inc purchased a new stake in Trex during the second quarter valued at about $58,000. 95.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Trex

In other news, SVP Amy M. Fernandez sold 1,050 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the transaction, the senior vice president directly owned 67,794 shares in the company, valued at $3,394,445.58. The trade was a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the transaction, the senior vice president owned 36,631 shares of the company’s stock, valued at $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TREX shares. Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Stifel Nicolaus set a $49.00 price objective on shares of Trex and gave the stock a “hold” rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 price objective (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Barclays reissued an “underweight” rating and set a $42.00 target price (up from $36.00) on shares of Trex in a report on Tuesday, July 14th. Finally, Zacks Research upgraded Trex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.30.

Trex Stock Up 0.9%

TREX stock opened at $47.27 on Tuesday. The stock has a 50-day simple moving average of $46.74 and a two-hundred day simple moving average of $42.40. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $66.06. The firm has a market capitalization of $4.91 billion, a PE ratio of 28.14, a PEG ratio of 3.23 and a beta of 1.48.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The firm had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. Trex’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities research analysts anticipate that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

Trex Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.