Wealth Enhancement Advisory Services LLC reduced its stake in shares of Trex Company, Inc. (NYSE:TREX – Free Report) by 65.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,771 shares of the construction company’s stock after selling 18,196 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Trex were worth $651,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in Trex in the 2nd quarter worth approximately $31,000. UMB Bank n.a. boosted its position in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Trex in the second quarter worth $44,000. Quarry LP raised its stake in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.
Trex Stock Performance
NYSE TREX opened at $71.88 on Friday. The firm’s 50 day moving average price is $66.22 and its two-hundred day moving average price is $74.92. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 3.21 and a beta of 1.49.
Wall Street Analyst Weigh In
Several research firms have commented on TREX. UBS Group lowered their target price on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group decreased their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Bank of America decreased their target price on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and dropped their price target for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.94.
Check Out Our Latest Report on Trex
Trex Company 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.
See Also
- Five stocks we like better than Trex
- Buy P&G Now, Before It Sets A New All-Time High
- Gilead’s Stock Surge: What’s Fueling the Momentum?
- Insider Trades May Not Tell You What You Think
- Breakout Alert: Qualcomm Just Hit The Rally Button
- 3 Stocks to Consider Buying in October
- Mercado Libre Shares Go on Sale: Is Now the Time to Buy?
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).
Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.