Centiva Capital LP Acquires 2,988 Shares of Trex Company, Inc. (NYSE:TREX)

Centiva Capital LP increased its position in shares of Trex Company, Inc. (NYSE:TREX) by 9.9% in the third quarter, HoldingsChannel reports. The firm owned 33,079 shares of the construction company’s stock after purchasing an additional 2,988 shares during the period. Centiva Capital LP’s holdings in Trex were worth $2,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Harrington Investments INC increased its position in shares of Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after purchasing an additional 140 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Trex by 2.6% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock valued at $523,000 after acquiring an additional 176 shares in the last quarter. First Horizon Advisors Inc. increased its position in Trex by 8.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after acquiring an additional 184 shares in the last quarter. Values First Advisors Inc. increased its position in Trex by 3.6% in the 2nd quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock valued at $497,000 after acquiring an additional 230 shares in the last quarter. Finally, ABLE Financial Group LLC increased its position in Trex by 3.6% in the 2nd quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock valued at $519,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Performance

Shares of TREX opened at $75.54 on Tuesday. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The firm’s 50 day moving average price is $68.73 and its two-hundred day moving average price is $72.58. The firm has a market cap of $8.09 billion, a P/E ratio of 34.49, a PEG ratio of 3.41 and a beta of 1.49.

Trex (NYSE:TREX) last announced 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. 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 analyst estimates of $225.42 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The business’s revenue was down 23.1% on a year-over-year basis. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TREX shares. DA Davidson raised their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. B. Riley lowered their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Bank of America lowered their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Barclays lowered their price target 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. Finally, Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and lowered 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 issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trex has an average rating of “Hold” and a consensus 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.