Trex Company, Inc. (NYSE:TREX) Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,209 shares of the construction company’s stock after buying an additional 465 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Trex were worth $9,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Trex in the 4th quarter valued at about $25,000. Mather Group LLC. purchased a new position in Trex during the first quarter worth approximately $26,000. Hantz Financial Services Inc. acquired a new position in Trex during the second quarter worth $31,000. Sunbelt Securities Inc. grew its holdings in Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares in the last quarter. Finally, Rise Advisors LLC raised its holdings in shares of Trex by 305.0% during the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after acquiring an additional 305 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of recent analyst reports. Bank of America decreased their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets cut their target price on Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Truist Financial dropped their price objective on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Finally, Robert W. Baird lowered their target price on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trex presently has an average rating of “Hold” and an average price target of $80.88.

Trex Stock Down 0.6 %

Shares of Trex stock opened at $60.84 on Friday. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The firm’s 50 day moving average is $71.40 and its two-hundred day moving average is $83.63. The firm has a market capitalization of $6.61 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.14 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same period in the previous year, the company earned $0.71 earnings per share. Trex’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts expect that Trex Company, Inc. will post 2.06 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.