Oppenheimer Asset Management Inc. Increases Holdings in Trex Company, Inc. (NYSE:TREX)

Oppenheimer Asset Management Inc. grew its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 23.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,329 shares of the construction company's stock after buying an additional 10,454 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of Trex worth $3,684,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TREX. Hantz Financial Services Inc. bought a new position in Trex in the 2nd quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex during the second quarter worth about $44,000. Quarry LP grew its position 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. Mather Group LLC. raised its stake in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company's stock valued at $47,000 after purchasing an additional 370 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock worth $43,000 after purchasing an additional 392 shares in the last quarter. Institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. Loop Capital cut shares of Trex from a "buy" rating to a "hold" rating and decreased their price target for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Benchmark cut their price objective on Trex from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. StockNews.com downgraded Trex from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th. Finally, Barclays dropped their price target on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $79.94.

Trex Price Performance

Shares of Trex stock traded down $2.55 during trading on Friday, hitting $68.23. The stock had a trading volume of 1,151,007 shares, compared to its average volume of 1,022,596. The stock has a market cap of $7.31 billion, a PE ratio of 31.16, a PEG ratio of 3.30 and a beta of 1.49. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The firm's fifty day simple moving average is $67.39 and its 200-day simple moving average is $74.08.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) 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 business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter last year, the firm earned $0.57 earnings per share. The firm's quarterly revenue was down 23.1% compared to the same quarter last year. Analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal 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.