Ibex Investors LLC lessened its holdings in shares of Trex Company Inc (NYSE:TREX) by 58.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,638 shares of the construction company’s stock after selling 3,643 shares during the period. Ibex Investors LLC’s holdings in Trex were worth $203,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisory Services Network LLC raised its position in shares of Trex by 100.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,000 shares of the construction company’s stock worth $133,000 after acquiring an additional 1,000 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Trex during the 3rd quarter worth about $204,000. DAVENPORT & Co LLC acquired a new stake in shares of Trex during the 3rd quarter worth about $212,000. Bank of Montreal Can acquired a new stake in shares of Trex during the 2nd quarter worth about $187,000. Finally, US Bancorp DE raised its position in shares of Trex by 100.0% during the 2nd quarter. US Bancorp DE now owns 3,084 shares of the construction company’s stock worth $193,000 after acquiring an additional 1,542 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.
TREX has been the topic of several research analyst reports. Sidoti raised Trex from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, SunTrust Banks cut their price target on Trex to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.35.
TREX opened at $62.71 on Friday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 39.69 and a beta of 2.27. Trex Company Inc has a 52 week low of $50.72 and a 52 week high of $90.74.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 29th. The construction company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The company had revenue of $166.38 million for the quarter, compared to analyst estimates of $173.10 million. Trex had a return on equity of 46.55% and a net margin of 19.16%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Equities analysts expect that Trex Company Inc will post 2.29 EPS for the current year.
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Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.
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