Motley Fool Asset Management LLC Has $6.79 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Motley Fool Asset Management LLC raised its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 29.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 100,230 shares of the construction company's stock after purchasing an additional 22,913 shares during the period. Motley Fool Asset Management LLC owned 0.09% of Trex worth $6,790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Trex in the 2nd quarter valued at about $726,000. Wealth Enhancement Advisory Services LLC increased its stake in Trex by 69.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company's stock worth $2,073,000 after purchasing an additional 11,455 shares during the period. Renaissance Technologies LLC purchased a new stake in Trex during the second quarter worth about $19,475,000. L & S Advisors Inc purchased a new stake in Trex during the third quarter worth about $1,000,000. Finally, Algert Global LLC increased its stake in Trex by 81.3% during the third quarter. Algert Global LLC now owns 86,300 shares of the construction company's stock worth $5,746,000 after purchasing an additional 38,700 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TREX. Truist Financial cut their target price on shares of Trex from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. BMO Capital Markets increased their target price on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 29th. UBS Group dropped their price target on Trex from $104.00 to $79.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Finally, Loop Capital downgraded Trex from a "buy" rating to a "hold" rating and lowered their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $79.94.

Trex Trading Down 1.3 %

Shares of NYSE:TREX traded down $1.00 during trading on Wednesday, reaching $76.12. 1,003,263 shares of the stock were exchanged, compared to its average volume of 1,016,232. The stock has a 50-day moving average price of $68.87 and a 200-day moving average price of $72.51. The firm has a market cap of $8.16 billion, a PE ratio of 35.21, a PEG ratio of 3.44 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.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $233.72 million during the quarter, compared to analysts' expectations of $225.42 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. Trex's revenue was down 23.1% compared to the same quarter last year. On average, sell-side analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

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.