Van ECK Associates Corp Increases Position in Trex Company, Inc. (NYSE:TREX)

Van ECK Associates Corp grew its holdings in Trex Company, Inc. (NYSE:TREX) by 22.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 31,823 shares of the construction company’s stock after buying an additional 5,782 shares during the period. Van ECK Associates Corp’s holdings in Trex were worth $2,635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TREX. Contravisory Investment Management Inc. purchased a new position in Trex during the fourth quarter worth about $28,000. Loomis Sayles & Co. L P purchased a new position in Trex during the third quarter worth about $27,000. Headinvest LLC purchased a new position in Trex during the third quarter worth about $29,000. Larson Financial Group LLC grew its position in Trex by 6,100.0% during the third quarter. Larson Financial Group LLC now owns 682 shares of the construction company’s stock worth $42,000 after buying an additional 671 shares during the period. Finally, Covestor Ltd lifted its position in shares of Trex by 623.8% during the 3rd quarter. Covestor Ltd now owns 941 shares of the construction company’s stock valued at $58,000 after acquiring an additional 811 shares during the period. 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 research reports. Barclays upped their target price on Trex from $86.00 to $93.00 and gave the company an “underweight” rating in a research note on Thursday, April 4th. Truist Financial boosted their price target on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Robert W. Baird raised their price objective on Trex from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. The Goldman Sachs Group upped their target price on Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $88.72.

Trex Stock Down 0.9 %

Trex stock opened at $92.52 on Wednesday. The stock has a market capitalization of $10.05 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.60. Trex Company, Inc. has a twelve month low of $51.03 and a twelve month high of $101.91. The company has a 50 day moving average of $93.81 and a 200-day moving average of $82.56.

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

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.