DAVENPORT & Co LLC raised its stake in shares of Trex Company Inc (NYSE:TREX) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,960 shares of the construction company’s stock after acquiring an additional 359 shares during the quarter. DAVENPORT & Co LLC’s holdings in Trex were worth $1,686,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TREX. Amundi Pioneer Asset Management Inc. lifted its position in shares of Trex by 50.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 337,153 shares of the construction company’s stock worth $20,742,000 after buying an additional 113,161 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Trex in the 4th quarter worth about $2,373,000. Guggenheim Capital LLC bought a new position in shares of Trex in the 4th quarter worth about $772,000. Jane Street Group LLC bought a new position in shares of Trex in the 4th quarter worth about $340,000. Finally, AQR Capital Management LLC lifted its position in shares of Trex by 9.0% in the 4th quarter. AQR Capital Management LLC now owns 17,680 shares of the construction company’s stock worth $1,589,000 after buying an additional 1,459 shares during the last quarter.
Trex stock opened at $139.33 on Friday. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 52.18 and a beta of 1.71. The company has a current ratio of 2.75, a quick ratio of 2.25 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $126.70 and its two-hundred day moving average price is $105.18. Trex Company Inc has a 52 week low of $56.22 and a 52 week high of $140.10.
Trex (NYSE:TREX) last released its earnings results on Monday, May 4th. The construction company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.13. The firm had revenue of $200.40 million for the quarter, compared to analysts’ expectations of $196.40 million. Trex had a net margin of 20.31% and a return on equity of 36.67%. Trex’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Research analysts expect that Trex Company Inc will post 2.67 earnings per share for the current fiscal year.
TREX has been the topic of a number of recent research reports. B. Riley raised their price target on shares of Trex from $100.00 to $125.00 in a research report on Tuesday, July 7th. DA Davidson increased their price objective on shares of Trex from $85.00 to $110.00 in a report on Tuesday, July 14th. Deutsche Bank increased their price objective on shares of Trex from $88.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, June 23rd. Stephens reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Trex in a report on Wednesday, May 6th. Finally, SunTrust Banks increased their price objective on shares of Trex from $99.00 to $126.00 in a report on Wednesday, July 8th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Trex presently has an average rating of “Hold” and a consensus price target of $117.50.
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
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