Envestnet Asset Management Inc. Trims Stock Position in Trex Company, Inc. (NYSE:TREX)

Envestnet Asset Management Inc. cut its position in shares of Trex Company, Inc. (NYSE:TREX) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,326 shares of the construction company’s stock after selling 1,077 shares during the period. Envestnet Asset Management Inc. owned approximately 0.29% of Trex worth $23,150,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TREX. V Square Quantitative Management LLC purchased a new stake in shares of Trex in the 4th quarter valued at approximately $25,000. Mather Group LLC. purchased a new stake in shares of Trex in the 1st quarter valued at approximately $26,000. Hantz Financial Services Inc. purchased a new stake in shares of Trex in the 2nd quarter valued at approximately $31,000. Sunbelt Securities Inc. raised its stake in shares of Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after acquiring an additional 314 shares during the period. Finally, Rise Advisors LLC raised its stake in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after acquiring an additional 305 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TREX. Stifel Nicolaus reduced their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. DA Davidson dropped their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup dropped their price objective on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, UBS Group dropped their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $80.88.

Trex Price Performance

TREX stock opened at $69.15 on Monday. The company has a fifty day moving average price of $69.65 and a 200 day moving average price of $81.38. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Trex’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts anticipate that Trex Company, Inc. will post 2.03 earnings per share for the current year.

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.