Independent Advisor Alliance Sells 1,097 Shares of Trex Company, Inc. (NYSE:TREX)

Independent Advisor Alliance reduced its position in Trex Company, Inc. (NYSE:TREX) by 13.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,860 shares of the construction company’s stock after selling 1,097 shares during the quarter. Independent Advisor Alliance’s holdings in Trex were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Harrington Investments INC increased its holdings in Trex by 1.4% in the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after acquiring an additional 140 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Trex by 2.6% in the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after purchasing an additional 176 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Trex by 8.8% in 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 during the period. Values First Advisors Inc. lifted its stake in shares of Trex by 3.6% during the 2nd quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock valued at $497,000 after buying an additional 230 shares in the last quarter. Finally, ABLE Financial Group LLC lifted its stake in shares of Trex by 3.6% during the 2nd quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock valued at $519,000 after buying an additional 240 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Down 0.9 %

NYSE TREX opened at $74.43 on Friday. The stock’s 50-day simple moving average is $68.43 and its two-hundred day simple moving average is $72.99. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the previous year, the company posted $0.57 EPS. Trex’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, equities analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TREX shares. Benchmark lowered their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. UBS Group reduced their target price on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Robert W. Baird increased their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, B. Riley reduced their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.