Trex Company, Inc. (NYSE:TREX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Trex Company, Inc. (NYSE:TREX) by 1.9% during the 3rd quarter, Holdings Channel reports. The firm owned 1,873,455 shares of the construction company’s stock after purchasing an additional 35,039 shares during the quarter. Geode Capital Management LLC’s holdings in Trex were worth $124,766,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TREX. Hantz Financial Services Inc. purchased a new stake in Trex in the 2nd quarter valued at approximately $31,000. UMB Bank n.a. raised its holdings in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the second quarter valued at $44,000. Quarry LP boosted its stake in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Trex by 51.4% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the construction company’s stock worth $56,000 after purchasing an additional 256 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TREX has been the subject of a number of recent research reports. DA Davidson lifted their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Barclays decreased their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Jefferies Financial Group lowered their price objective on 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 increased their target price on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.94.

Trex Stock Down 1.0 %

TREX opened at $76.86 on Wednesday. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The company has a 50 day moving average of $70.78 and a two-hundred day moving average of $71.89. The company has a market cap of $8.23 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.50 and a beta of 1.49.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same period in the prior year, the company earned $0.57 EPS. The firm’s revenue was down 23.1% on a year-over-year basis. Research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current 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.