Trex Company, Inc. (NYSE:TREX) Shares Purchased by Montanaro Asset Management Ltd

Montanaro Asset Management Ltd increased its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 5.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 322,300 shares of the construction company's stock after purchasing an additional 17,300 shares during the quarter. Trex makes up approximately 3.8% of Montanaro Asset Management Ltd's investment portfolio, making the stock its 8th largest position. Montanaro Asset Management Ltd owned about 0.30% of Trex worth $21,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vident Advisory LLC acquired a new position in Trex during the first quarter worth $4,013,000. Comerica Bank lifted its stake in shares of 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 purchasing an additional 8,036 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Trex by 28.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company's stock valued at $7,746,000 after purchasing an additional 17,376 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Trex in the 2nd quarter valued at $726,000. Finally, Interval Partners LP acquired a new position in shares of Trex in the 1st quarter valued at $5,150,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Jefferies Financial Group decreased their price target on Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a research note on Wednesday, October 9th. B. Riley decreased their price target on Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their target price on Trex from $110.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Loop Capital lowered Trex from a "buy" rating to a "hold" rating and decreased their target price for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Finally, DA Davidson increased their target price on Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $79.94.

Trex Stock Up 1.2 %

NYSE TREX traded up $0.89 during trading hours on Friday, hitting $72.76. 756,342 shares of the company were exchanged, compared to its average volume of 1,619,109. The company has a 50 day moving average of $66.40 and a two-hundred day moving average of $74.71. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 3.31 and a beta of 1.49.

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 for the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the prior year, the business posted $0.57 EPS. The business's revenue for the quarter was down 23.1% on a year-over-year basis. On average, equities research analysts predict that Trex Company, Inc. will post 2.05 EPS for the current 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.