Blueshift Asset Management LLC Acquires 2,717 Shares of Trex Company, Inc. (NYSE:TREX)

Blueshift Asset Management LLC boosted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 27.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,710 shares of the construction company’s stock after buying an additional 2,717 shares during the period. Blueshift Asset Management LLC’s holdings in Trex were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TREX. O Shaughnessy Asset Management LLC acquired a new position in shares of Trex during the first quarter worth about $324,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Trex by 38.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,158 shares of the construction company’s stock worth $714,000 after acquiring an additional 1,988 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Trex by 10.6% in the first quarter. Tidal Investments LLC now owns 3,179 shares of the construction company’s stock valued at $317,000 after purchasing an additional 305 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Trex by 22.0% in the first quarter. Cetera Advisors LLC now owns 4,452 shares of the construction company’s stock worth $444,000 after purchasing an additional 803 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Trex by 33.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock valued at $19,716,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TREX shares. Barclays reduced their price objective 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. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Benchmark lowered their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Robert W. Baird lifted their price target on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $79.94.

Trex Stock Down 0.9 %

Shares of NYSE:TREX opened at $74.43 on Thursday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The company’s 50 day moving average price is $68.30 and its two-hundred day moving average price is $72.98. The firm has a market cap of $7.97 billion, a PE ratio of 33.99, a PEG ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company’s revenue was down 23.1% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. On average, research analysts expect that Trex Company, Inc. will post 2.05 EPS 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.