JPMorgan Chase & Co. Buys 393,850 Shares of Trex Company, Inc. (NYSE:TREX)

JPMorgan Chase & Co. increased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 97.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 797,513 shares of the construction company’s stock after acquiring an additional 393,850 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.74% of Trex worth $53,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Trex in the third quarter worth approximately $30,000. UMB Bank n.a. grew its holdings in Trex by 150.8% in 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 last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex in the second quarter valued at about $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 acquiring an additional 513 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Trex by 134.6% during the third quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock worth $118,000 after purchasing an additional 1,015 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of NYSE:TREX opened at $69.43 on Friday. The business has a fifty day moving average price of $72.60 and a 200-day moving average price of $70.71. The company has a market capitalization of $7.44 billion, a PE ratio of 31.70, a PEG ratio of 3.50 and a beta of 1.49. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s revenue was down 23.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Jefferies Financial Group dropped 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. Robert W. Baird boosted their price objective on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Barclays dropped their target price 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average price target of $79.94.

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.