TD Private Client Wealth LLC Acquires 797 Shares of Trex Company, Inc. (NYSE:TREX)

TD Private Client Wealth LLC grew its holdings in Trex Company, Inc. (NYSE:TREX) by 38.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,873 shares of the construction company’s stock after buying an additional 797 shares during the quarter. TD Private Client Wealth LLC’s holdings in Trex were worth $191,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wasatch Advisors LP increased its position in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after purchasing an additional 839,837 shares in the last quarter. Point72 Asset Management L.P. raised its position in Trex by 100.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after purchasing an additional 511,163 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in Trex in the 3rd quarter valued at $20,600,000. 95.96% of the stock is owned by institutional investors.

Trex Trading Down 1.8 %

NYSE:TREX opened at $76.98 on Friday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The stock has a 50-day moving average price of $70.53 and a two-hundred day moving average price of $72.05. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 3.50 and a beta of 1.49.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 28.89% and a net margin of 20.23%. Trex’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. Sell-side analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analysts Set New Price Targets

TREX has been the subject of a number of recent research reports. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their price objective on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. BMO Capital Markets raised their target price on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Barclays dropped their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.94.

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.