Jupiter Topco LLC Buys New Stake in Trex Company, Inc. $TREX

Key Points

• Jupiter Topco LLC initiated a Trex stake of 46,578 shares valued at approximately $2.33 million during the second quarter. Institutional investors and hedge funds collectively own 95.96% of TREX.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $49.30 price target, despite upgrades from Zacks Research and higher targets from Truist Financial and Barclays.
• Trex reported quarterly EPS of $0.62, slightly below the $0.63 consensus, while revenue reached $418.02 million and rose 7.8% year over year. The stock opened at $43.67, down 0.1% in the latest session.

Jupiter Topco LLC bought a new stake in Trex Company, Inc. (NYSE:TREX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 46,578 shares of the construction company's stock, valued at approximately $2,328,000.

A number of other large investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in shares of Trex in the 4th quarter valued at $33,000. Ascentis Independent Advisors purchased a new position in Trex during the 1st quarter valued at about $44,000. Eurizon Capital SGR S.p.A. acquired a new position in Trex in the 4th quarter valued at about $47,000. Empowered Funds LLC purchased a new stake in Trex during the fourth quarter worth about $50,000. Finally, Versant Capital Management Inc purchased a new stake in Trex during the second quarter worth about $58,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TREX has been the subject of several recent research reports. Zacks Research raised shares of Trex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. DA Davidson reaffirmed a "buy" rating and set a $55.00 target price on shares of Trex in a research note on Tuesday, July 14th. Truist Financial increased their target price on shares of Trex from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Stifel Nicolaus set a $49.00 price target on shares of Trex and gave the company a "hold" rating in a research report on Tuesday, August 11th. Finally, Barclays restated an "underweight" rating and issued a $42.00 price target (up from $36.00) on shares of Trex in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $49.30.

Insider Buying and Selling

In related news, SVP Amy M. Fernandez sold 1,050 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the transaction, the senior vice president directly owned 67,794 shares of the company's stock, valued at $3,394,445.58. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total transaction of $70,000.00. Following the sale, the senior vice president owned 36,631 shares in the company, valued at $1,831,550. This represents a 3.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by company insiders.

Trex Trading Down 0.1%

Trex stock opened at $43.67 on Friday. The company has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $42.49. The stock has a market cap of $4.54 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 3.02 and a beta of 1.47. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $66.06.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $418.02 million during the quarter, compared to analysts' expectations of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. As a group, sell-side analysts forecast that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company's core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex's product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.

Want to see what other hedge funds are holding TREX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trex Company, Inc. (NYSE:TREX - Free Report).

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