Trex Company, Inc. (NYSE:TREX) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its position in Trex Company, Inc. (NYSE:TREX) by 58.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,903 shares of the construction company’s stock after purchasing an additional 3,291 shares during the quarter. CreativeOne Wealth LLC’s holdings in Trex were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TREX. OFI Invest Asset Management purchased a new position in shares of Trex during the second quarter valued at approximately $726,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Trex by 69.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock worth $2,073,000 after purchasing an additional 11,455 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Trex during the second quarter worth $19,475,000. DekaBank Deutsche Girozentrale grew its position in shares of Trex by 33.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock valued at $19,716,000 after purchasing an additional 50,000 shares during the period. Finally, L & S Advisors Inc acquired a new position in Trex in the third quarter valued at $1,000,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TREX. DA Davidson raised their price target on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets boosted their target price on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Stephens cut shares of Trex from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th. Finally, Barclays cut their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

TREX opened at $75.03 on Friday. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The company has a 50-day moving average of $68.61 and a 200-day moving average of $72.92. The company has a market capitalization of $8.04 billion, a P/E ratio of 34.26, a PEG ratio of 3.39 and a beta of 1.49.

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

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.