Wasatch Advisors LP Buys 1,015,516 Shares of Trex Company, Inc. (NYSE:TREX)

Wasatch Advisors LP lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 33.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,076,408 shares of the construction company’s stock after purchasing an additional 1,015,516 shares during the quarter. Trex accounts for about 1.3% of Wasatch Advisors LP’s holdings, making the stock its 28th largest position. Wasatch Advisors LP owned about 3.80% of Trex worth $271,407,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in TREX. B. Riley Wealth Advisors Inc. increased its stake in Trex by 38.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,158 shares of the construction company’s stock worth $714,000 after acquiring an additional 1,988 shares during the last quarter. Tidal Investments LLC increased its stake in Trex by 10.6% in the 1st quarter. Tidal Investments LLC now owns 3,179 shares of the construction company’s stock worth $317,000 after acquiring an additional 305 shares during the last quarter. Cetera Advisors LLC increased its stake in Trex by 22.0% in the 1st quarter. Cetera Advisors LLC now owns 4,452 shares of the construction company’s stock worth $444,000 after acquiring an additional 803 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Trex by 33.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock worth $19,716,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Trex by 29,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 894 shares of the construction company’s stock worth $66,000 after acquiring an additional 891 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Jefferies Financial Group decreased their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. BMO Capital Markets upped their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Finally, StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two 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. Based on data from MarketBeat.com, Trex presently has an average rating of “Hold” and a consensus price target of $79.94.

Trex Price Performance

Shares of TREX stock opened at $75.03 on Friday. The stock has a market capitalization of $8.04 billion, a PE ratio of 34.26, a P/E/G ratio of 3.39 and a beta of 1.49. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The business has a 50-day moving average of $68.61 and a 200 day moving average of $72.92.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $0.57 EPS. Analysts anticipate that Trex Company, Inc. will post 2.05 EPS 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.