Trex Company, Inc. (NYSE:TREX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 11.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,867 shares of the construction company's stock after selling 7,268 shares during the period. Janney Montgomery Scott LLC owned about 0.05% of Trex worth $3,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of TREX. Vident Advisory LLC acquired a new position in Trex in the 1st quarter valued at about $4,013,000. Comerica Bank boosted its position in Trex by 3.8% in the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company's stock valued at $21,689,000 after buying an additional 8,036 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company's stock worth $7,746,000 after acquiring an additional 17,376 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Trex during the second quarter worth $726,000. Finally, Interval Partners LP acquired a new stake in shares of Trex in the first quarter valued at $5,150,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. DA Davidson upped their price target on Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. B. Riley decreased their price target on shares of Trex from $107.00 to $97.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Barclays dropped their price objective 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. BMO Capital Markets boosted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. Finally, Stephens downgraded Trex from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $79.94.

Trex Stock Up 2.3 %

TREX stock traded up $1.67 during trading on Monday, hitting $74.43. The company had a trading volume of 1,305,929 shares, compared to its average volume of 1,020,587. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The firm has a 50-day moving average price of $66.40 and a 200-day moving average price of $74.61. The firm has a market cap of $7.97 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex's quarterly revenue was down 23.1% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. Sell-side analysts anticipate 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.