First Horizon Advisors Inc. Boosts Stock Position in Trex Company, Inc. (NYSE:TREX)

First Horizon Advisors Inc. grew its position in Trex Company, Inc. (NYSE:TREX) by 8.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,282 shares of the construction company’s stock after buying an additional 184 shares during the period. First Horizon Advisors Inc.’s holdings in Trex were worth $152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Trex in the first quarter worth $536,000. O Shaughnessy Asset Management LLC acquired a new position in Trex during the 1st quarter valued at about $324,000. Bessemer Group Inc. raised its stake in Trex by 14.2% in the first quarter. Bessemer Group Inc. now owns 5,113 shares of the construction company’s stock valued at $510,000 after buying an additional 636 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in 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 buying an additional 17,376 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in Trex by 32.0% in the first quarter. CreativeOne Wealth LLC now owns 4,502 shares of the construction company’s stock worth $449,000 after acquiring an additional 1,092 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TREX shares. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. Jefferies Financial Group lowered their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Bank of America cut their target price on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Benchmark lowered their price target on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Barclays cut their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trex has a consensus rating of “Hold” and an average price target of $79.94.

Trex Trading Up 2.7 %

NYSE TREX opened at $72.25 on Friday. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 3.20 and a beta of 1.49. The stock has a 50-day moving average of $67.94 and a 200 day moving average of $73.44. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating 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 business’s revenue was down 23.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. Equities analysts predict that Trex Company, Inc. will post 2.05 EPS for the current fiscal 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.