Avantax Advisory Services Inc. Has $927,000 Stake in Trex Company, Inc. (NYSE:TREX)

Avantax Advisory Services Inc. cut its stake in Trex Company, Inc. (NYSE:TREX) by 23.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,433 shares of the construction company’s stock after selling 4,094 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Trex were worth $927,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TREX. Wilmington Savings Fund Society FSB bought a new stake in Trex during the third quarter worth $30,000. Mather Group LLC. boosted its holdings in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after acquiring an additional 473 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Trex in the 4th quarter worth $41,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Trex by 47.4% during the fourth quarter. V Square Quantitative Management LLC now owns 628 shares of the construction company’s stock valued at $43,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TREX shares. Truist Financial reduced their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Benchmark reiterated a “buy” rating and set a $80.00 price target on shares of Trex in a report on Monday, March 3rd. Jefferies Financial Group reduced their price objective on Trex from $81.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Finally, Bank of America decreased their target price on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trex presently has a consensus rating of “Hold” and an average price target of $78.63.

Trex Stock Up 1.9 %

TREX opened at $59.17 on Thursday. The firm has a 50-day moving average price of $65.70 and a 200-day moving average price of $68.03. Trex Company, Inc. has a twelve month low of $52.75 and a twelve month high of $100.77. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Trex

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 shares were 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 of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

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.