Concentric Capital Strategies LP Takes Position in Trex Company, Inc. (NYSE:TREX)

Concentric Capital Strategies LP acquired a new position in Trex Company, Inc. (NYSE:TREX) during the third quarter, Holdings Channel reports. The firm acquired 71,560 shares of the construction company’s stock, valued at approximately $4,764,000.

Several other large investors also recently added to or reduced their stakes in TREX. Harrington Investments INC raised its holdings in shares of Trex by 1.4% in the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after acquiring an additional 140 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Trex by 2.6% in the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after purchasing an additional 176 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock worth $152,000 after purchasing an additional 184 shares during the last quarter. Values First Advisors Inc. raised its stake in Trex by 3.6% in the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock valued at $497,000 after purchasing an additional 230 shares in the last quarter. Finally, ABLE Financial Group LLC lifted its position in Trex by 3.6% during the second quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock valued at $519,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. BMO Capital Markets lifted their price target on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Bank of America cut their price objective on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. B. Riley decreased their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, DA Davidson upped their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.94.

Trex Trading Up 0.8 %

Shares of NYSE:TREX opened at $75.03 on Monday. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.41 and a beta of 1.49. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The company has a 50-day moving average price of $68.61 and a 200-day moving average price of $72.67.

Trex (NYSE:TREX) last released 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. The business had revenue of $233.72 million during 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%. Trex’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS. As a group, research analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current fiscal 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.