Mitchell Capital Management Co. Has $4.77 Million Position in Trex Company, Inc. (NYSE:TREX)

Mitchell Capital Management Co. boosted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,164 shares of the construction company’s stock after acquiring an additional 4,114 shares during the quarter. Mitchell Capital Management Co.’s holdings in Trex were worth $4,774,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Wasatch Advisors LP raised its stake in Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. State Street Corp raised its stake in Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Trex by 0.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after acquiring an additional 17,405 shares in the last quarter. Geode Capital Management LLC raised its stake in Trex by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after acquiring an additional 35,039 shares in the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of Trex in the fourth quarter valued at $110,414,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TREX. Jefferies Financial Group lowered their target price on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. UBS Group lowered their target price on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. 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. 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, Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus target price of $78.38.

Insider Buying and Selling

In related 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 transaction, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

Trex Trading Up 2.3 %

TREX stock opened at $61.71 on Friday. The firm has a market capitalization of $6.61 billion, a PE ratio of 28.18, a PEG ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $100.77. The business’s 50 day simple moving average is $68.96 and its 200 day simple moving average is $68.65.

Trex (NYSE:TREX) last posted its 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, sell-side analysts predict that Trex Company, Inc. will post 2.04 EPS 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.