Landscape Capital Management L.L.C. Buys 59,145 Shares of Trex Company, Inc. (NYSE:TREX)

Landscape Capital Management L.L.C. increased its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 339.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 76,545 shares of the construction company's stock after purchasing an additional 59,145 shares during the quarter. Landscape Capital Management L.L.C. owned about 0.07% of Trex worth $5,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TREX. Vanguard Group Inc. increased its position in shares of Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company's stock valued at $1,028,829,000 after buying an additional 65,428 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Trex during the 1st quarter valued at $536,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Trex in the first quarter worth $324,000. Seven Eight Capital LP bought a new stake in Trex during the first quarter valued at $201,000. Finally, Bessemer Group Inc. grew its position in Trex by 14.2% during the first quarter. Bessemer Group Inc. now owns 5,113 shares of the construction company's stock worth $510,000 after buying an additional 636 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Benchmark dropped their price target on Trex from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. DA Davidson increased their price target on shares of Trex from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Loop Capital downgraded shares of Trex from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a research note on Monday, August 12th. Finally, Stephens downgraded Trex from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $79.94.

Trex Stock Performance

NYSE:TREX traded up $1.46 during midday trading on Thursday, reaching $70.34. 970,012 shares of the stock traded hands, compared to its average volume of 1,022,109. The stock has a market capitalization of $7.54 billion, a P/E ratio of 32.19, a PEG ratio of 3.07 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. The company has a fifty day moving average of $67.69 and a 200 day moving average of $73.61.

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