Victory Capital Management Inc. Sells 7,287 Shares of Trex Company, Inc. (NYSE:TREX)

Victory Capital Management Inc. lessened its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,033 shares of the construction company's stock after selling 7,287 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Trex worth $5,928,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company's stock worth $21,689,000 after acquiring an additional 8,036 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Trex by 28.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company's stock valued at $7,746,000 after buying an additional 17,376 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Trex in the 2nd quarter valued at approximately $726,000. Interval Partners LP acquired a new position in Trex in the first quarter worth approximately $5,150,000. Finally, Wealth Enhancement Advisory Services LLC raised its position 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 valued at $2,073,000 after acquiring an additional 11,455 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Analyst Ratings Changes

TREX has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. B. Riley lowered their target price on shares of Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price target on Trex from $110.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Finally, Truist Financial cut their price objective on Trex from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $79.94.

Trex Stock Up 2.7 %

Trex stock traded up $1.91 on Friday, hitting $72.25. The company's stock had a trading volume of 894,387 shares, compared to its average volume of 1,616,635. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The firm has a market cap of $7.74 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The company has a fifty day moving average price of $67.94 and a 200-day moving average price of $73.44.

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, beating 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 business had revenue of $233.72 million for the quarter, compared to analysts' expectations of $225.42 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The firm's revenue for the quarter was down 23.1% on a year-over-year basis. Analysts anticipate 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.