Prospera Private Wealth LLC Buys New Shares in Trex Company, Inc. (NYSE:TREX)

Prospera Private Wealth LLC bought a new stake in Trex Company, Inc. (NYSE:TREX) during the third quarter, HoldingsChannel.com reports. The fund bought 26,958 shares of the construction company’s stock, valued at approximately $1,795,000.

Other hedge funds have also bought and sold shares of the company. Vident Advisory LLC bought a new stake in Trex in the first quarter valued at approximately $4,013,000. Comerica Bank boosted its position in Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after purchasing an additional 8,036 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock valued at $7,746,000 after purchasing an additional 17,376 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Trex in the second quarter valued at about $726,000. Finally, Interval Partners LP acquired a new stake in shares of Trex during the 1st quarter worth about $5,150,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TREX. DA Davidson increased their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Bank of America reduced their price target on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average price target of $79.94.

Trex Price Performance

TREX opened at $67.43 on Wednesday. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.10 and a beta of 1.49. The company’s 50 day moving average price is $67.58 and its two-hundred day moving average price is $73.64. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating 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 firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the company posted $0.57 EPS. The business’s revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts predict that Trex Company, Inc. will post 2.05 EPS for the current 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.