5,862 Shares in Trex Company, Inc. (NYSE:TREX) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,862 shares of the construction company’s stock, valued at approximately $434,000.

Other large investors have also added to or reduced their stakes in the company. Vident Advisory LLC acquired a new position in Trex during the first quarter worth $4,013,000. Comerica Bank boosted its holdings in Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after purchasing an additional 8,036 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after purchasing an additional 4,534 shares during the last quarter. Duality Advisers LP lifted its stake in Trex by 54.1% in the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock valued at $4,756,000 after acquiring an additional 16,738 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock valued at $7,746,000 after acquiring an additional 17,376 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TREX shares. Jefferies Financial Group cut their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and cut their price target for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Bank of America cut their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, BMO Capital Markets cut their price target on shares of Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trex has an average rating of “Hold” and a consensus price target of $81.31.

Trex Stock Performance

NYSE:TREX opened at $64.73 on Thursday. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.21 and a beta of 1.50. The firm’s 50-day simple moving average is $64.76 and its 200 day simple moving average is $77.70.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping 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 business had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. During the same period last year, the firm earned $0.71 earnings per share. Trex’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current year.

Trex Profile

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.