Jacobs Levy Equity Management Inc. Boosts Stake in Trex Company, Inc. (NYSE:TREX)

Jacobs Levy Equity Management Inc. raised its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 6,093.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 853,620 shares of the construction company's stock after purchasing an additional 839,837 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.80% of Trex worth $56,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TREX. Wasatch Advisors LP grew its stake in shares of Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company's stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the period. The Manufacturers Life Insurance Company grew its stake in Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company's stock valued at $35,231,000 after acquiring an additional 435,055 shares during the period. Renaissance Technologies LLC acquired a new position in Trex in the second quarter valued at about $19,475,000. Impax Asset Management Group plc boosted its position in shares of Trex by 44.2% during the third quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company's stock worth $54,753,000 after buying an additional 252,262 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Trex by 39.1% during the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company's stock worth $57,375,000 after buying an additional 217,767 shares during the period. Institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TREX shares. Stephens lowered Trex from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. BMO Capital Markets raised their target price on Trex from $67.00 to $72.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Barclays dropped their price target on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research note on Tuesday, October 29th. Stifel Nicolaus dropped their price target on Trex from $110.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Finally, Loop Capital cut Trex from a "buy" rating to a "hold" rating and dropped their price target for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $79.94.

Trex Price Performance

Shares of NYSE TREX traded down $0.98 during mid-day trading on Wednesday, hitting $76.14. 1,003,393 shares of the company's stock traded hands, compared to its average volume of 1,017,958. The company's 50-day moving average is $69.07 and its two-hundred day moving average is $72.53. The company has a market capitalization of $8.16 billion, a P/E ratio of 34.77, a PEG ratio of 3.44 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.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $0.57 EPS. The company's revenue was down 23.1% compared to the same quarter last year. Equities analysts anticipate that Trex Company, Inc. will post 2.05 EPS for the current fiscal 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.