Ashton Thomas Private Wealth LLC Takes Position in Trex Company, Inc. (NYSE:TREX)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 600 shares of the construction company’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Trex during the 4th quarter valued at $25,000. Mather Group LLC. bought a new stake in shares of Trex during the 1st quarter valued at $26,000. Hantz Financial Services Inc. bought a new stake in shares of Trex during the 2nd quarter valued at $31,000. Sunbelt Securities Inc. raised its position in shares of Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares during the period. Finally, Rise Advisors LLC raised its position in shares of Trex by 305.0% during the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TREX. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. B. Riley decreased their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Bank of America decreased their price target 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. Stifel Nicolaus decreased their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial decreased their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $80.88.

Trex Trading Up 3.1 %

Shares of NYSE:TREX opened at $66.10 on Monday. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.18 and a beta of 1.50. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The firm’s 50-day moving average is $70.38 and its 200 day moving average is $82.35.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. As a group, equities analysts forecast that Trex Company, Inc. will post 2.03 EPS for the current fiscal year.

Trex 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.