Summit Creek Advisors LLC Grows Stake in Trex Company, Inc. (NYSE:TREX)

Key Points

• Summit Creek Advisors LLC increased its stake in Trex Company by 16.2%, owning approximately 0.16% of the company worth about $9.8 million as of the end of the first quarter.
• Analysts show mixed sentiments regarding Trex, with target prices ranging from $54 to $85, and a consensus rating of "Moderate Buy."
• Trex reported earnings of $0.60 per share for the last quarter, surpassing expectations, although revenue was down 9% year-over-year.

Summit Creek Advisors LLC lifted its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,774 shares of the construction company's stock after purchasing an additional 23,551 shares during the period. Summit Creek Advisors LLC owned 0.16% of Trex worth $9,806,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TREX. Huntington National Bank raised its position in shares of Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after buying an additional 393 shares during the period. Blue Trust Inc. boosted its stake in Trex by 55.9% during the first quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock worth $66,000 after buying an additional 408 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Trex by 137.7% in the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after acquiring an additional 965 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Trex in the 4th quarter valued at approximately $122,000. Finally, Bessemer Group Inc. lifted its stake in Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after purchasing an additional 170 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TREX has been the topic of several research reports. Benchmark reissued a "buy" rating and set a $80.00 target price on shares of Trex in a research note on Monday, May 12th. B. Riley raised shares of Trex to a "strong-buy" rating in a research report on Monday, July 21st. Citigroup decreased their target price on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Stephens lowered their price objective on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Finally, Loop Capital lifted their price target on Trex from $62.00 to $66.00 and gave the stock a "hold" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.88.

Trex Price Performance

TREX traded down $2.22 during trading on Thursday, reaching $64.01. 651,244 shares of the stock were exchanged, compared to its average volume of 1,590,135. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 35.17, a P/E/G ratio of 2.83 and a beta of 1.50. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $86.56. The business's 50 day moving average price is $58.61 and its two-hundred day moving average price is $60.67.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. During the same period in the previous year, the firm earned $0.82 EPS. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president directly owned 24,569 shares of the company's stock, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president directly owned 27,527 shares of the company's stock, valued at $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is owned by company 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.