Algert Global LLC Acquires 38,700 Shares of Trex Company, Inc. (NYSE:TREX)

Algert Global LLC increased its holdings in Trex Company, Inc. (NYSE:TREX) by 81.3% during the 3rd quarter, Holdings Channel reports. The firm owned 86,300 shares of the construction company’s stock after buying an additional 38,700 shares during the period. Algert Global LLC’s holdings in Trex were worth $5,746,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in Trex during the 2nd quarter valued at approximately $31,000. UMB Bank n.a. boosted its position in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Trex during the 2nd quarter valued at approximately $44,000. Quarry LP boosted its position in Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after acquiring an additional 370 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TREX shares. Loop Capital cut Trex from a “buy” rating to a “hold” rating and cut their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. BMO Capital Markets lifted their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Stifel Nicolaus dropped their price target on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Benchmark dropped their price target on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Stephens cut Trex from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.94.

Trex Stock Up 2.7 %

Shares of NYSE TREX opened at $72.25 on Friday. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The firm 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. The company has a 50 day moving average of $67.94 and a 200 day moving average of $73.44.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping 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 company had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same period in the previous year, the business earned $0.57 EPS. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. As a group, equities 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.