Point72 DIFC Ltd Buys 4,674 Shares of Trex Company, Inc. (NYSE:TREX)

Point72 DIFC Ltd raised its stake in Trex Company, Inc. (NYSE:TREX) by 14.2% in the third quarter, Holdings Channel.com reports. The firm owned 37,493 shares of the construction company’s stock after acquiring an additional 4,674 shares during the period. Point72 DIFC Ltd’s holdings in Trex were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its holdings in shares of Trex by 100.0% during 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 acquiring an additional 511,163 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of Trex during the 3rd quarter worth about $20,600,000. Millburn Ridgefield Corp bought a new position in shares of Trex during the 3rd quarter worth about $193,000. Motley Fool Asset Management LLC lifted its holdings in shares of Trex by 29.6% during the 3rd quarter. Motley Fool Asset Management LLC now owns 100,230 shares of the construction company’s stock worth $6,790,000 after acquiring an additional 22,913 shares during the period. Finally, Motley Fool Wealth Management LLC lifted its holdings in shares of Trex by 78.8% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 132,173 shares of the construction company’s stock worth $8,800,000 after acquiring an additional 58,263 shares during the period. 95.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. UBS Group cut their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus cut their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price target 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Shares of NYSE:TREX opened at $76.14 on Thursday. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The company has a 50 day moving average of $69.07 and a 200-day moving average of $72.53. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last issued its quarterly 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 company had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the previous year, the company earned $0.57 EPS. Trex’s revenue was down 23.1% on a year-over-year basis. Equities research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current year.

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.