Proficio Capital Partners LLC Buys Shares of 30,649 Trex Company, Inc. (NYSE:TREX)

Proficio Capital Partners LLC bought a new stake in shares of Trex Company, Inc. (NYSE:TREX) during the fourth quarter, HoldingsChannel.com reports. The fund bought 30,649 shares of the construction company’s stock, valued at approximately $2,116,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in Trex during the 3rd quarter valued at about $30,000. Mather Group LLC. raised its stake in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after purchasing an additional 473 shares during the period. Eagle Bay Advisors LLC bought a new position in Trex in the fourth quarter worth approximately $41,000. Finally, V Square Quantitative Management LLC grew its stake in Trex by 47.4% in the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock worth $43,000 after purchasing an additional 202 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of TREX stock opened at $59.17 on Thursday. The stock’s fifty day moving average price is $65.70 and its 200 day moving average price is $68.03. Trex Company, Inc. has a 1-year low of $52.75 and a 1-year high of $100.77. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, equities research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Citigroup decreased their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. DA Davidson reiterated a “neutral” rating and set a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. UBS Group reduced their price target on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Jefferies Financial Group dropped their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $78.63.

Insider Buying and Selling at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by company insiders.

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.