Trex Company, Inc. (NYSE:TREX) Position Increased by Pembroke Management LTD

Pembroke Management LTD boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 19.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371,806 shares of the construction company's stock after buying an additional 60,927 shares during the quarter. Trex accounts for 3.2% of Pembroke Management LTD's investment portfolio, making the stock its 11th largest position. Pembroke Management LTD owned approximately 0.34% of Trex worth $24,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. purchased a new stake in shares of Trex during the second quarter worth approximately $31,000. Fidelis Capital Partners LLC acquired a new stake in shares of Trex in the 1st quarter valued at $59,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex during the 2nd quarter worth $44,000. Quarry LP grew its stake in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company's stock worth $45,000 after purchasing an additional 513 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company's stock valued at $47,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Price Performance

Shares of NYSE:TREX traded down $0.09 during midday trading on Friday, reaching $70.76. The company had a trading volume of 1,911,759 shares, compared to its average volume of 1,635,226. The stock has a market capitalization of $7.58 billion, a P/E ratio of 32.31, a PEG ratio of 3.22 and a beta of 1.49. The stock's fifty day moving average price is $65.66 and its 200-day moving average price is $75.28. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91.

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 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 company had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The company's revenue was down 23.1% on a year-over-year basis. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

TREX has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price target on Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, August 12th. StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Citigroup lowered their target price on shares of Trex from $94.00 to $80.00 and set a "neutral" rating for the company in a report on Thursday, July 11th. Finally, BMO Capital Markets lifted their price target 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. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $79.94.

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.