Malaga Cove Capital LLC Lowers Position in Trex Company, Inc. (NYSE:TREX)

Malaga Cove Capital LLC trimmed its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 50.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,136 shares of the construction company's stock after selling 9,213 shares during the quarter. Malaga Cove Capital LLC's holdings in Trex were worth $608,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in Trex during the 2nd quarter worth approximately $31,000. UMB Bank n.a. boosted 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 buying an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Trex during the second quarter worth $44,000. Quarry LP raised its position in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company's stock valued at $45,000 after buying an additional 513 shares during the last quarter. Finally, Mather Group LLC. lifted 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 acquiring an additional 370 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Down 0.7 %

TREX traded down $0.50 on Thursday, hitting $71.88. The company's stock had a trading volume of 908,507 shares, compared to its average volume of 1,020,489. The company's 50 day simple moving average is $66.22 and its 200-day simple moving average is $74.92. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The firm has a market cap of $7.70 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 3.21 and a beta of 1.49.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business earned $0.57 earnings per share. The firm's quarterly revenue was down 23.1% compared to the same quarter last year. Equities analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on TREX shares. Citigroup lowered their target price on shares of Trex from $94.00 to $80.00 and set a "neutral" rating for the company in a report on Thursday, July 11th. Stifel Nicolaus dropped their target price on shares of Trex from $110.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. DA Davidson upped their target price on Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Bank of America decreased their price target on Trex from $97.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird boosted their price objective on Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trex currently has a consensus rating of "Hold" and an average 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.