Inspire Investing LLC Has $400,000 Holdings in Trex Company, Inc. (NYSE:TREX)

Inspire Investing LLC trimmed its stake in Trex Company, Inc. (NYSE:TREX) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,793 shares of the construction company’s stock after selling 400 shares during the period. Inspire Investing LLC’s holdings in Trex were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its position in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after purchasing an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Trex by 6,093.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after acquiring an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings 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 valued at $68,075,000 after acquiring an additional 511,163 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after purchasing an additional 435,055 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Trex by 97.6% in the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after purchasing an additional 393,850 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group lowered their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. DA Davidson raised their price objective on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Citigroup cut their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird upped their price objective 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.81.

Trex Price Performance

Trex stock opened at $74.32 on Tuesday. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The stock has a fifty day moving average price of $72.33 and a two-hundred day moving average price of $70.11. The firm has a market capitalization of $7.96 billion, a P/E ratio of 33.94, a P/E/G ratio of 3.06 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm 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%. The firm’s quarterly revenue was down 23.1% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. On average, equities research analysts predict that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

About Trex

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.