Cerity Partners LLC Trims Stock Position in Trex Company, Inc. (NYSE:TREX)

Cerity Partners LLC cut its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 13.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 441,506 shares of the construction company's stock after selling 69,948 shares during the quarter. Cerity Partners LLC owned approximately 0.41% of Trex worth $29,395,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. purchased a new position in shares of Trex in the 2nd quarter valued at approximately $31,000. UMB Bank n.a. grew its holdings 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 buying an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Trex during the 2nd quarter worth about $44,000. Quarry LP lifted its position in Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company's stock worth $45,000 after acquiring an additional 513 shares during the period. Finally, Mather Group LLC. grew 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 last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TREX shares. BMO Capital Markets upped their target price on Trex from $67.00 to $72.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Truist Financial reduced their target price on shares of Trex from $120.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. DA Davidson upped their price target on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Loop Capital cut Trex from a "buy" rating to a "hold" rating and decreased their price objective for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. Finally, B. Riley dropped their target price on Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Two equities 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, Trex presently has an average rating of "Hold" and an average price target of $79.94.

Trex Trading Up 6.7 %

TREX stock traded up $4.85 during midday trading on Monday, reaching $77.10. The stock had a trading volume of 1,464,681 shares, compared to its average volume of 1,023,715. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 3.29 and a beta of 1.49. The company's fifty day simple moving average is $67.94 and its 200 day simple moving average is $73.18.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results 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 net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same period in the previous year, the business posted $0.57 earnings per share. Trex's quarterly revenue was down 23.1% on a year-over-year basis. Sell-side analysts predict that Trex Company, Inc. will post 2.05 EPS for the current 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.