Fisher Asset Management LLC Has $7.94 Million Stake in Trex Company, Inc. (NYSE:TREX)

Fisher Asset Management LLC increased its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 22.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,296 shares of the construction company's stock after buying an additional 21,597 shares during the quarter. Fisher Asset Management LLC owned 0.11% of Trex worth $7,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in shares of Trex during the 2nd quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new position in Trex during the second quarter worth about $44,000. Quarry LP boosted its holdings in 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 purchasing an additional 513 shares in the last quarter. Mather Group LLC. grew its stake in shares of Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company's stock valued at $47,000 after purchasing an additional 370 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock worth $43,000 after buying an additional 392 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TREX has been the topic of several recent analyst reports. Stephens lowered Trex from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th. Bank of America lowered their target price on shares of Trex from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Robert W. Baird boosted their price target on shares of Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Truist Financial dropped their price objective on shares of Trex from $120.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, UBS Group reduced their target price on Trex from $104.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $79.94.

Trex Stock Performance

TREX traded up $0.60 during trading on Friday, reaching $75.03. 362,578 shares of the company's stock were exchanged, compared to its average volume of 1,018,332. The company's fifty day moving average price is $68.49 and its 200-day moving average price is $73.00. The firm has a market capitalization of $8.04 billion, a PE ratio of 33.99, a P/E/G ratio of 3.39 and a beta of 1.49. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 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 business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm's revenue was down 23.1% on a year-over-year basis. Research analysts forecast that Trex Company, Inc. will post 2.05 earnings per share 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.