Trex Company, Inc. (NYSE:TREX) Shares Purchased by Fmr LLC

Fmr LLC raised its holdings in Trex Company, Inc. (NYSE:TREX) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,262,920 shares of the construction company’s stock after purchasing an additional 71,761 shares during the quarter. Fmr LLC owned about 1.18% of Trex worth $84,085,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hantz Financial Services Inc. purchased a new stake in Trex during the 2nd quarter valued at approximately $31,000. UMB Bank n.a. raised its stake in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex during the second quarter worth $44,000. Quarry LP grew its position in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after buying an additional 513 shares during the last quarter. Finally, Mather Group LLC. increased its stake in Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after buying an additional 370 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays reduced their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. DA Davidson boosted their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Robert W. Baird lifted their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Benchmark cut their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trex presently has an average rating of “Hold” and an average price target of $79.94.

Trex Price Performance

Shares of Trex stock opened at $76.02 on Friday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The business has a 50 day moving average price of $69.25 and a 200 day moving average price of $72.56. The company has a market capitalization of $8.14 billion, a P/E ratio of 34.71, a P/E/G ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business’s revenue was down 23.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 earnings per share. As a group, research analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

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.