Wasatch Advisors LP Acquires 1,015,516 Shares of Trex Company, Inc. (NYSE:TREX)

Wasatch Advisors LP raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 33.2% in the third quarter, HoldingsChannel reports. The firm owned 4,076,408 shares of the construction company’s stock after buying an additional 1,015,516 shares during the quarter. Trex makes up 1.3% of Wasatch Advisors LP’s investment portfolio, making the stock its 28th biggest position. Wasatch Advisors LP’s holdings in Trex were worth $271,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TREX. FORA Capital LLC bought a new position in shares of Trex in the 3rd quarter worth approximately $1,309,000. CreativeOne Wealth LLC raised its position in shares of Trex by 58.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 8,903 shares of the construction company’s stock worth $593,000 after acquiring an additional 3,291 shares in the last quarter. Blueshift Asset Management LLC raised its position in shares of Trex by 27.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 12,710 shares of the construction company’s stock worth $846,000 after acquiring an additional 2,717 shares in the last quarter. BNP Paribas Financial Markets increased its position in Trex by 85.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 149,587 shares of the construction company’s stock valued at $9,960,000 after buying an additional 69,073 shares in the last quarter. Finally, Millrace Asset Group Inc. bought a new position in Trex during the 3rd quarter valued at approximately $2,010,000. Institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of TREX opened at $75.03 on Friday. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The firm has a market capitalization of $8.04 billion, a P/E ratio of 34.26, a PEG ratio of 3.39 and a beta of 1.49. The business has a fifty day moving average of $68.61 and a 200 day moving average of $72.92.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $225.42 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. Trex’s revenue was down 23.1% compared to the same quarter last year. Analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TREX shares. Barclays reduced their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. DA Davidson raised their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus cut their target price on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two equities 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 stock. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus target price of $79.94.

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.