Raymond James Financial Services Advisors Inc. Sells 351 Shares of Trex Company, Inc. (NYSE:TREX)

Raymond James Financial Services Advisors Inc. reduced its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 5.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,722 shares of the construction company’s stock after selling 351 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Trex were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Yarbrough Capital LLC grew its stake in shares of Trex by 6.0% during the 4th quarter. Yarbrough Capital LLC now owns 13,842 shares of the construction company’s stock worth $1,146,000 after acquiring an additional 787 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Trex during the 4th quarter worth approximately $28,000. OneAscent Financial Services LLC grew its stake in shares of Trex by 7.2% during the 4th quarter. OneAscent Financial Services LLC now owns 3,489 shares of the construction company’s stock worth $289,000 after acquiring an additional 234 shares in the last quarter. DMC Group LLC bought a new position in shares of Trex during the 4th quarter worth approximately $291,000. Finally, Bennett Selby Investments LP grew its stake in shares of Trex by 10.8% in the fourth quarter. Bennett Selby Investments LP now owns 48,240 shares of the construction company’s stock valued at $3,994,000 after buying an additional 4,710 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Stock Performance

TREX opened at $87.45 on Friday. Trex Company, Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $101.91. The company has a market capitalization of $9.50 billion, a P/E ratio of 46.27, a P/E/G ratio of 2.02 and a beta of 1.60. The stock has a fifty day moving average of $94.18 and a 200-day moving average of $79.50.

Trex (NYSE:TREX) last posted its earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Trex had a return on equity of 31.26% and a net margin of 18.76%. The company had revenue of $195.75 million during the quarter, compared to the consensus estimate of $193.40 million. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts predict that Trex Company, Inc. will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TREX. UBS Group raised their target price on shares of Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Robert W. Baird raised their target price on shares of Trex from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. raised their target price on shares of Trex from $79.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Benchmark raised their target price on shares of Trex from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Barclays raised their target price on shares of Trex from $86.00 to $93.00 and gave the company an “underweight” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average 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.