Captrust Financial Advisors Lowers Position in Trex Company, Inc. (NYSE:TREX)

Captrust Financial Advisors lessened its stake in Trex Company, Inc. (NYSE:TREX) by 7.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,479 shares of the construction company’s stock after selling 539 shares during the quarter. Captrust Financial Advisors’ holdings in Trex were worth $431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in Trex by 462.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after purchasing an additional 435,055 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Trex in the second quarter worth about $19,475,000. Impax Asset Management Group plc raised its holdings in shares of Trex by 44.2% during the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock worth $54,753,000 after acquiring an additional 252,262 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Trex by 39.1% during the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after acquiring an additional 217,767 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Trex during the 2nd quarter worth approximately $15,635,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

NYSE:TREX opened at $78.35 on Friday. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91. The firm has a market cap of $8.39 billion, a P/E ratio of 35.78, a P/E/G ratio of 3.53 and a beta of 1.49. The firm has a 50-day simple moving average of $70.31 and a 200-day simple moving average of $72.23.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird upped their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. DA Davidson upped their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets upped their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Barclays decreased their price target on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.94.

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.