L & S Advisors Inc Acquires Shares of 15,013 Trex Company, Inc. (NYSE:TREX)

L & S Advisors Inc bought a new position in Trex Company, Inc. (NYSE:TREX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,013 shares of the construction company's stock, valued at approximately $1,000,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Comerica Bank raised its holdings in shares of Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company's stock worth $21,689,000 after acquiring an additional 8,036 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Trex by 28.8% during 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. Interval Partners LP purchased a new stake in shares of Trex during the first quarter worth $5,150,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Trex by 69.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company's stock worth $2,073,000 after acquiring an additional 11,455 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Trading Up 2.7 %

TREX stock traded up $1.90 during trading on Friday, reaching $72.24. 894,377 shares of the stock were exchanged, compared to its average volume of 1,021,546. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The company has a market capitalization of $7.74 billion, a P/E ratio of 32.83, a price-to-earnings-growth ratio of 3.07 and a beta of 1.49. The stock has a 50 day simple moving average of $67.81 and a 200-day simple moving average of $73.59.

Trex (NYSE:TREX - Get Free Report) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $225.42 million. During the same period last year, the business earned $0.57 earnings per share. The firm's revenue for the quarter was down 23.1% compared to the same quarter last year. Equities analysts predict that Trex Company, Inc. will post 2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

TREX has been the subject of several recent research reports. Truist Financial cut their price objective on Trex from $120.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. DA Davidson raised their target price on Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Bank of America cut their target price on Trex from $97.00 to $85.00 and set a "buy" rating on the stock in a report 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. Finally, Robert W. Baird raised their target price on Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Two 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $79.94.

Trex Company 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.