Intech Investment Management LLC Buys New Position in Trex Company, Inc. (NYSE:TREX)

Intech Investment Management LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,767 shares of the construction company’s stock, valued at approximately $1,984,000.

A number of other institutional investors also recently made changes to their positions in TREX. Inspire Investing LLC lifted its holdings in shares of Trex by 32.1% in the second quarter. Inspire Investing LLC now owns 4,748 shares of the construction company’s stock valued at $352,000 after buying an additional 1,153 shares during the period. MQS Management LLC lifted its holdings in Trex by 36.4% in the 2nd quarter. MQS Management LLC now owns 6,003 shares of the construction company’s stock valued at $445,000 after acquiring an additional 1,602 shares during the last quarter. Seven Eight Capital LP boosted its position in shares of Trex by 712.6% during the 2nd quarter. Seven Eight Capital LP now owns 16,357 shares of the construction company’s stock valued at $1,212,000 after purchasing an additional 14,344 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Trex by 8.3% in the 2nd quarter. Hsbc Holdings PLC now owns 20,773 shares of the construction company’s stock worth $1,537,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Trex by 0.6% in the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after purchasing an additional 6,901 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Stock Up 0.7 %

Trex stock opened at $69.66 on Tuesday. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The company’s fifty day simple moving average is $69.42 and its 200-day simple moving average is $81.19. The stock has a market cap of $7.57 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.25 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. During the same period last year, the business earned $0.71 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Trex Company, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Benchmark reduced their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Bank of America decreased their target price on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. BMO Capital Markets decreased their price target on Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, B. Riley cut their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.88.

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.