Fisher Asset Management LLC Acquires 21,597 Shares of Trex Company, Inc. (NYSE:TREX)

Fisher Asset Management LLC increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 22.1% during the third quarter, Holdings Channel.com reports. The firm owned 119,296 shares of the construction company’s stock after buying an additional 21,597 shares during the period. Fisher Asset Management LLC’s holdings in Trex were worth $7,943,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Harrington Investments INC boosted its stake in shares of Trex by 1.4% during the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after purchasing an additional 140 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock valued at $523,000 after purchasing an additional 176 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after purchasing an additional 184 shares in the last quarter. Values First Advisors Inc. boosted its stake in shares of Trex by 3.6% during the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock valued at $497,000 after purchasing an additional 230 shares in the last quarter. Finally, ABLE Financial Group LLC boosted its stake in shares of Trex by 3.6% during the second quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock valued at $519,000 after purchasing an additional 240 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Down 0.9 %

NYSE TREX opened at $74.43 on Friday. The company has a fifty day simple moving average of $68.43 and a two-hundred day simple moving average of $72.99. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The stock has a market cap of $7.97 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (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 firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter last year, the company posted $0.57 earnings per share. The firm’s revenue was down 23.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analysts Set New Price Targets

TREX has been the subject of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Bank of America decreased their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Jefferies Financial Group decreased their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Truist Financial decreased their target price on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.94.

Trex 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.