Trex Company, Inc. (NYSE:TREX) Shares Acquired by Peloton Wealth Strategists

Peloton Wealth Strategists increased its holdings in Trex Company, Inc. (NYSE:TREX) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,380 shares of the construction company’s stock after purchasing an additional 1,275 shares during the quarter. Peloton Wealth Strategists’ holdings in Trex were worth $2,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new stake in Trex during the 2nd quarter worth about $31,000. UMB Bank n.a. increased its position in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex during the second quarter valued at approximately $44,000. Quarry LP lifted its position in shares of Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Trex by 51.4% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the construction company’s stock worth $56,000 after purchasing an additional 256 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on TREX. Jefferies Financial Group cut their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets upped their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Barclays lowered their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Trex currently has an average rating of “Hold” and a consensus price target of $79.94.

Trex Stock Up 2.1 %

NYSE:TREX opened at $77.63 on Monday. The company’s 50 day moving average is $69.44 and its 200-day moving average is $72.27. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 3.53 and a beta of 1.49.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm 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 firm posted $0.57 EPS. The business’s quarterly revenue was down 23.1% on a year-over-year basis. Research analysts predict that Trex Company, Inc. will post 2.05 EPS 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.