JPMorgan Chase & Co. Raises Stake in Trex Company, Inc. (NYSE:TREX)

JPMorgan Chase & Co. lifted its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 97.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 797,513 shares of the construction company's stock after buying an additional 393,850 shares during the period. JPMorgan Chase & Co. owned approximately 0.74% of Trex worth $53,098,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. American Trust grew its position in Trex by 7.9% during the third quarter. American Trust now owns 3,367 shares of the construction company's stock valued at $224,000 after buying an additional 246 shares during the period. Tidal Investments LLC boosted its stake in Trex by 73.1% in the third quarter. Tidal Investments LLC now owns 14,836 shares of the construction company's stock valued at $988,000 after acquiring an additional 6,263 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Trex during the 3rd quarter valued at approximately $30,000. Virtu Financial LLC increased its stake in shares of Trex by 29.2% during the 3rd quarter. Virtu Financial LLC now owns 12,566 shares of the construction company's stock worth $837,000 after purchasing an additional 2,838 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Trex by 38.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,873 shares of the construction company's stock worth $191,000 after purchasing an additional 797 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Trading Up 1.7 %

Shares of TREX traded up $1.18 during trading hours on Friday, reaching $69.43. 418,561 shares of the company's stock traded hands, compared to its average volume of 536,731. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The stock has a market cap of $7.44 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. The firm's 50 day simple moving average is $72.60 and its 200-day simple moving average is $70.71.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results 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 business had revenue of $233.72 million for the quarter, compared to the consensus estimate 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 earnings per share. As a group, analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group reduced their price objective on Trex from $77.00 to $73.00 and set a "hold" rating for the company in a report on Wednesday, October 9th. Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a report on Tuesday, October 29th. BMO Capital Markets upped their price objective on shares of Trex from $67.00 to $72.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. DA Davidson lifted their target price on shares of Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Finally, StockNews.com lowered shares of Trex from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $79.94.

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.