State of Alaska Department of Revenue Increases Stake in Trex Company, Inc. (NYSE:TREX)

State of Alaska Department of Revenue boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,636 shares of the construction company’s stock after purchasing an additional 855 shares during the period. State of Alaska Department of Revenue’s holdings in Trex were worth $841,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vident Advisory LLC purchased a new stake in Trex during the 1st quarter valued at about $4,013,000. Comerica Bank boosted its holdings in shares of Trex by 3.8% during the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after acquiring an additional 8,036 shares during the last quarter. Duality Advisers LP boosted its holdings in shares of Trex by 54.1% during the 1st quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock valued at $4,756,000 after acquiring an additional 16,738 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Trex by 28.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock valued at $7,746,000 after acquiring an additional 17,376 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Trex during the 2nd quarter valued at about $726,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TREX has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Barclays lowered their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Truist Financial lowered their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Bank of America lowered their price objective on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Trading Up 2.5 %

NYSE TREX opened at $72.28 on Wednesday. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The company’s 50 day moving average is $65.88 and its two-hundred day moving average is $74.96. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 3.22 and a beta of 1.49.

Trex (NYSE:TREX) last announced its quarterly 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 net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. During the same period in the previous year, the firm posted $0.57 EPS. Trex’s revenue for the quarter was down 23.1% compared to the same quarter last year. Sell-side analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current year.

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.