OFI Invest Asset Management Invests $726,000 in Trex Company, Inc. (NYSE:TREX)

OFI Invest Asset Management bought a new position in Trex Company, Inc. (NYSE:TREX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,500 shares of the construction company’s stock, valued at approximately $726,000.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Trex in the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new stake in Trex during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. grew its position in Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after acquiring an additional 314 shares during the last quarter. Rise Advisors LLC grew its position in Trex by 305.0% during the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after acquiring an additional 305 shares during the last quarter. Finally, Vestor Capital LLC bought a new stake in Trex during the 4th quarter worth approximately $47,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on TREX shares. Stifel Nicolaus decreased 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 lowered their target price on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays lowered their target price on Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Citigroup lowered their target price on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.88.

Trex Stock Down 0.5 %

Shares of Trex stock traded down $0.35 during trading on Friday, reaching $63.40. 1,518,835 shares of the company were exchanged, compared to its average volume of 937,001. The business has a 50-day moving average price of $76.22 and a 200-day moving average price of $85.97. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.01 and a beta of 1.50. Trex Company, Inc. has a twelve month low of $53.59 and a twelve month high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. On average, equities research analysts forecast that Trex Company, Inc. will post 2.07 EPS for the current fiscal 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.