Avantax Advisory Services Inc. Sells 4,094 Shares of Trex Company, Inc. (NYSE:TREX)

Avantax Advisory Services Inc. reduced its position in Trex Company, Inc. (NYSE:TREX) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,433 shares of the construction company’s stock after selling 4,094 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Trex were worth $927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wasatch Advisors LP increased its stake in Trex by 33.2% in the third 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 last quarter. State Street Corp increased its stake in shares of Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after purchasing an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Trex by 0.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,967,748 shares of the construction company’s stock worth $135,834,000 after buying an additional 17,405 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Trex by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock worth $124,766,000 after buying an additional 35,039 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in Trex in the fourth quarter valued at about $110,414,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Up 1.9 %

TREX opened at $59.17 on Thursday. The stock has a market cap of $6.34 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. The company has a fifty day moving average of $65.70 and a 200-day moving average of $68.03. Trex Company, Inc. has a twelve month low of $52.75 and a twelve month high of $100.77.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Sell-side analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now owns 1,705 shares in the company, valued at $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Bank of America decreased their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Finally, Jefferies Financial Group reduced their price objective on Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trex has an average rating of “Hold” and an average target price of $78.63.

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.