Peloton Wealth Strategists Acquires 1,275 Shares of Trex Company, Inc. (NYSE:TREX)

Peloton Wealth Strategists increased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,380 shares of the construction company’s stock after acquiring an additional 1,275 shares during the quarter. Peloton Wealth Strategists’ holdings in Trex were worth $2,555,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TREX. MML Investors Services LLC raised its holdings in Trex by 22.7% in the 3rd quarter. MML Investors Services LLC now owns 36,438 shares of the construction company’s stock valued at $2,426,000 after acquiring an additional 6,736 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Trex during the third quarter valued at approximately $1,481,000. State Street Corp raised its stake in shares of Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after purchasing an additional 37,436 shares in the last quarter. Point72 DIFC Ltd lifted its position in Trex by 14.2% in the third quarter. Point72 DIFC Ltd now owns 37,493 shares of the construction company’s stock worth $2,496,000 after purchasing an additional 4,674 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Trex by 100.0% during the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after buying an additional 511,163 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TREX shares. Jefferies Financial Group dropped their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. BMO Capital Markets increased their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Robert W. Baird boosted 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 equities research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Up 2.1 %

TREX stock opened at $77.63 on Monday. The business has a fifty day moving average of $69.44 and a 200-day moving average of $72.27. The company has a market cap of $8.32 billion, a P/E ratio of 35.45, a PEG ratio of 3.53 and a beta of 1.49. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

Trex (NYSE:TREX) last issued its quarterly 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 net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the previous year, the company earned $0.57 EPS. Trex’s revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share 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.