Trex Company, Inc. (NYSE:TREX) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 8.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,282 shares of the construction company’s stock after buying an additional 184 shares during the period. First Horizon Advisors Inc.’s holdings in Trex were worth $152,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. acquired a new stake in Trex in the 2nd quarter valued at about $31,000. UMB Bank n.a. grew its holdings in Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after buying an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex during the 2nd quarter worth $44,000. Quarry LP grew its holdings in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the period. Finally, Mather Group LLC. raised its stake in Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on TREX. BMO Capital Markets upped their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. DA Davidson increased their price target on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. B. Riley reduced their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays lowered their target price 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, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trex presently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Trading Up 2.7 %

TREX stock opened at $72.25 on Friday. The stock has a market cap of $7.74 billion, a P/E ratio of 32.99, a PEG ratio of 3.20 and a beta of 1.49. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The company’s 50 day moving average is $67.94 and its two-hundred day moving average is $73.44.

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. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. On average, equities research analysts predict 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.