22,237 Shares in Trex Company, Inc. (NYSE:TREX) Purchased by XTX Topco Ltd

XTX Topco Ltd acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,237 shares of the construction company's stock, valued at approximately $1,481,000.

Several other institutional investors also recently bought and sold shares of TREX. OFI Invest Asset Management bought a new stake in Trex during the 2nd quarter valued at $726,000. Wealth Enhancement Advisory Services LLC boosted 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 purchasing an additional 11,455 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Trex in the second quarter valued at about $19,475,000. L & S Advisors Inc purchased a new position in Trex in the third quarter valued at about $1,000,000. Finally, Algert Global LLC raised its holdings in Trex by 81.3% in the third quarter. Algert Global LLC now owns 86,300 shares of the construction company's stock worth $5,746,000 after purchasing an additional 38,700 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Trex from $77.00 to $73.00 and set a "hold" rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price target on shares of Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. DA Davidson increased their price objective on Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. StockNews.com downgraded Trex from a "hold" rating to a "sell" rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird increased their price target on Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trex presently has an average rating of "Hold" and a consensus target price of $79.94.

Trex Trading Up 0.6 %

TREX traded up $0.50 during midday trading on Monday, hitting $78.13. 974,952 shares of the company were exchanged, compared to its average volume of 1,017,128. The company's 50 day simple moving average is $69.67 and its 200 day simple moving average is $72.21. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 3.53 and a beta of 1.49. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping 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 firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same period last year, the company earned $0.57 earnings per share. Trex's revenue for the quarter was down 23.1% compared to the same quarter last year. On average, equities 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.