30,649 Shares in Trex Company, Inc. (NYSE:TREX) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 30,649 shares of the construction company's stock, valued at approximately $2,116,000.

A number of other institutional investors also recently bought and sold shares of the stock. Principal Securities Inc. raised its holdings in Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock worth $213,000 after purchasing an additional 147 shares during the period. Pacer Advisors Inc. raised its holdings in Trex by 0.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock worth $1,102,000 after purchasing an additional 148 shares during the period. CIBC Asset Management Inc raised its holdings in Trex by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock worth $230,000 after purchasing an additional 175 shares during the period. First Horizon Advisors Inc. raised its holdings in Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock valued at $152,000 after acquiring an additional 184 shares during the period. Finally, Mather Group LLC. raised its holdings in 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 during the period. 95.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction 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. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.71% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have commented on TREX. UBS Group decreased their price target on Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Bank of America decreased their price target on Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, Truist Financial decreased their price target on Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $78.63.

Trex Stock Down 0.4 %

TREX traded down $0.21 on Friday, hitting $59.54. The company had a trading volume of 2,483,002 shares, compared to its average volume of 1,176,605. The company has a market cap of $6.38 billion, a PE ratio of 27.19, a PEG ratio of 2.51 and a beta of 1.60. Trex Company, Inc. has a 12-month low of $52.75 and a 12-month high of $100.77. The business's fifty day simple moving average is $65.48 and its 200 day simple moving average is $67.99.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $167.63 million during 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%. On average, analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share 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.