Wealth Enhancement Advisory Services LLC Lowers Stake in Trex Company, Inc. (NYSE:TREX)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 65.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,771 shares of the construction company's stock after selling 18,196 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Trex were worth $651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in shares of Trex during the second quarter worth $19,475,000. Motley Fool Asset Management LLC grew its holdings in shares of Trex by 287.5% during the first quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company's stock valued at $32,400,000 after buying an additional 240,989 shares during the last quarter. Federated Hermes Inc. raised its stake in Trex by 39.1% in the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company's stock worth $57,375,000 after acquiring an additional 217,767 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Trex during the 2nd quarter worth about $15,635,000. Finally, Blair William & Co. IL grew its stake in Trex by 19.4% during the 1st quarter. Blair William & Co. IL now owns 1,137,225 shares of the construction company's stock valued at $113,438,000 after purchasing an additional 184,631 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of TREX stock traded up $0.89 during trading hours on Friday, reaching $72.76. The company had a trading volume of 756,342 shares, compared to its average volume of 1,019,273. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 3.29 and a beta of 1.49. The stock has a fifty day moving average of $66.40 and a 200-day moving average of $74.81.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company's revenue for the quarter was down 23.1% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. On average, analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on TREX shares. DA Davidson lifted their price objective on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Stifel Nicolaus reduced their price objective on Trex from $110.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Stephens downgraded Trex from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Truist Financial reduced their price target on Trex from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group lowered their price objective on Trex from $104.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $79.94.

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.