Trex Company, Inc. (NYSE:TREX) Position Lessened by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) 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.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Trex’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, research analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

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.

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.