Point72 Asset Management L.P. Grows Position in Trex Company, Inc. (NYSE:TREX)

Point72 Asset Management L.P. raised its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 100.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,022,459 shares of the construction company's stock after acquiring an additional 511,163 shares during the period. Point72 Asset Management L.P. owned approximately 0.95% of Trex worth $68,075,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Harrington Investments INC increased its stake in Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company's stock worth $727,000 after buying an additional 140 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company's stock worth $523,000 after acquiring an additional 176 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock valued at $152,000 after acquiring an additional 184 shares in the last quarter. Values First Advisors Inc. boosted its holdings in Trex by 3.6% in the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company's stock valued at $497,000 after purchasing an additional 230 shares during the period. Finally, ABLE Financial Group LLC grew its stake in Trex by 3.6% during the 2nd quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company's stock worth $519,000 after purchasing an additional 240 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Price Performance

Shares of NYSE:TREX traded down $0.10 on Thursday, reaching $76.02. The company's stock had a trading volume of 851,025 shares, compared to its average volume of 1,017,259. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The stock's 50-day moving average is $69.25 and its two-hundred day moving average is $72.56. The stock has a market capitalization of $8.14 billion, a P/E ratio of 34.71, a PEG ratio of 3.51 and a beta of 1.49.

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 analysts' consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million during the quarter, compared to analysts' expectations of $225.42 million. During the same period last year, the firm earned $0.57 EPS. The firm's revenue for the quarter was down 23.1% on a year-over-year basis. Equities analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TREX shares. DA Davidson increased their price target on Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. B. Riley lowered their price target 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. Truist Financial decreased their price objective on shares of Trex from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. StockNews.com cut Trex from a "hold" rating to a "sell" rating in a research note on Tuesday, October 29th. Finally, UBS Group lowered their price objective on Trex from $104.00 to $79.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Two 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.