American Trust Raises Position in Trex Company, Inc. (NYSE:TREX)

American Trust lifted its stake in Trex Company, Inc. (NYSE:TREX) by 7.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,367 shares of the construction company’s stock after purchasing an additional 246 shares during the period. American Trust’s holdings in Trex were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TREX. Wasatch Advisors LP increased its holdings in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. State Street Corp increased its stake in shares of Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Trex by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after purchasing an additional 60,405 shares during the period. Geode Capital Management LLC lifted its stake in shares of Trex by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after buying an additional 35,039 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Trex by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after buying an additional 122,658 shares during the period. 95.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on TREX shares. Jefferies Financial Group lowered their price objective on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets boosted their price target on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Barclays cut their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Robert W. Baird lifted their price objective on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.94.

Trex Price Performance

NYSE:TREX opened at $76.98 on Friday. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 3.63 and a beta of 1.49. The business has a 50 day simple moving average of $70.53 and a 200-day simple moving average of $72.15. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same period last year, the company earned $0.57 earnings per share. Trex’s revenue was down 23.1% on a year-over-year basis. As a group, analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

About Trex

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.