Proficio Capital Partners LLC Purchases New Stake in Trex Company, Inc. (NYSE:TREX)

Proficio Capital Partners LLC acquired a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,649 shares of the construction company's stock, valued at approximately $2,116,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex in the third quarter worth approximately $30,000. Mather Group LLC. lifted its position in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after buying an additional 473 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Trex during the 4th quarter valued at $41,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of Trex by 47.4% during the 4th quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company's stock valued at $43,000 after acquiring an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America reduced their price objective on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. DA Davidson reissued a "neutral" rating and issued a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. UBS Group cut their price objective on shares of Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. StockNews.com downgraded shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, Jefferies Financial Group dropped their price target 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 investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $78.63.

Insider Transactions at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of Trex 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 sale, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company's stock.

Trex Stock Up 1.0 %

TREX opened at $58.78 on Thursday. The stock's 50 day moving average price is $68.47 and its two-hundred day moving average price is $68.70. The firm has a market capitalization of $6.30 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a 12-month low of $56.31 and a 12-month high of $100.77.

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

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.

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