Eagle Asset Management Inc. Has $3.39 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Eagle Asset Management Inc. grew its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 20.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,653 shares of the construction company's stock after buying an additional 7,902 shares during the period. Eagle Asset Management Inc.'s holdings in Trex were worth $3,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of TREX. Harrington Investments INC raised its stake in Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company's stock worth $727,000 after buying an additional 140 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Trex by 2.6% during 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 period. First Horizon Advisors Inc. lifted its holdings in shares of Trex by 8.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock valued at $152,000 after purchasing an additional 184 shares in the last quarter. Values First Advisors Inc. grew its position in shares of Trex by 3.6% in the 2nd 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 during the period. Finally, ABLE Financial Group LLC increased its stake in Trex by 3.6% during the 2nd quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company's stock worth $519,000 after purchasing an additional 240 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TREX. Jefferies Financial Group cut their price target on shares of Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a research note on Wednesday, October 9th. UBS Group cut their price objective on shares of Trex from $104.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Bank of America lowered their target price 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 cut their price target on Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Finally, 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 research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Trex presently has an average rating of "Hold" and a consensus price target of $79.94.

Trex Stock Performance

NYSE:TREX traded down $1.96 during mid-day trading on Tuesday, hitting $75.14. The stock had a trading volume of 864,613 shares, compared to its average volume of 1,023,020. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 3.29 and a beta of 1.49. The company's 50 day simple moving average is $68.15 and its 200 day simple moving average is $73.07.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data 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. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million during the quarter, compared to analysts' expectations of $225.42 million. During the same period last year, the firm posted $0.57 earnings per share. The business's revenue was down 23.1% on a year-over-year basis. As a group, equities analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Trex 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.