Mount Yale Investment Advisors LLC Invests $234,000 in Trex Company, Inc. (NYSE:TREX)

Mount Yale Investment Advisors LLC acquired a new stake in Trex Company, Inc. (NYSE:TREX) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,394 shares of the construction company’s stock, valued at approximately $234,000.

Several other hedge funds have also added to or reduced their stakes in TREX. Wasatch Advisors LP increased its position in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after acquiring an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after purchasing an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Trex by 100.0% in the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after purchasing an additional 511,163 shares during the period. The Manufacturers Life Insurance Company raised its position in Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after purchasing an additional 435,055 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Trex by 97.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after buying an additional 393,850 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Up 0.8 %

NYSE TREX opened at $72.71 on Thursday. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91. The business has a 50 day moving average price of $72.50 and a 200-day moving average price of $70.07. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 3.06 and a beta of 1.50.

Trex (NYSE:TREX) last announced 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 net margin of 20.23% and a return on equity of 28.89%. The business 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 business posted $0.57 EPS. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. On average, equities research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TREX. Citigroup lowered their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. DA Davidson boosted their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Jefferies Financial Group decreased their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Robert W. Baird boosted their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.81.

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.