Prospera Private Wealth LLC Takes $1.80 Million Position in Trex Company, Inc. (NYSE:TREX)

Prospera Private Wealth LLC acquired a new position in Trex Company, Inc. (NYSE:TREX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,958 shares of the construction company's stock, valued at approximately $1,795,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new stake in shares of Trex in the second quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex in the second quarter valued at about $44,000. Quarry LP boosted its stake in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company's stock worth $45,000 after purchasing an additional 513 shares during the period. Mather Group LLC. grew its stake in Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company's stock valued at $47,000 after acquiring an additional 370 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock valued at $43,000 after purchasing an additional 392 shares in the last quarter. Institutional investors own 95.96% of the company's stock.

Trex Stock Performance

Shares of TREX traded up $1.04 during trading hours on Wednesday, hitting $68.47. The stock had a trading volume of 323,126 shares, compared to its average volume of 1,019,427. The firm has a 50-day moving average price of $67.58 and a 200 day moving average price of $73.64. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.10 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $225.42 million. During the same period in the prior year, the company posted $0.57 EPS. The company's revenue for the quarter was down 23.1% on a year-over-year basis. As a group, analysts predict that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TREX shares. B. Riley cut their target price on shares of Trex from $107.00 to $97.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Benchmark decreased their target price on Trex from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Barclays dropped their price objective on Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 29th. DA Davidson raised their target price on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, BMO Capital Markets boosted their price objective 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 issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.