Y Intercept Hong Kong Ltd Trims Position in Trex Company, Inc. (NYSE:TREX)

Y Intercept Hong Kong Ltd reduced its holdings in Trex Company, Inc. (NYSE:TREX) by 75.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,546 shares of the construction company’s stock after selling 20,439 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Trex were worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wasatch Advisors LP boosted its holdings in 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 last quarter. State Street Corp boosted 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 worth $211,954,000 after buying an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after acquiring an additional 60,405 shares during the period. American Century Companies Inc. raised its position in Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after acquiring an additional 122,658 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in Trex by 0.4% in the third quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company’s stock valued at $106,031,000 after acquiring an additional 6,616 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Price Performance

TREX opened at $77.57 on Tuesday. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. The company’s 50 day simple moving average is $70.78 and its two-hundred day simple moving average is $71.89. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. On average, equities analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TREX has been the subject of several recent research reports. Robert W. Baird lifted their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. DA Davidson raised their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barclays reduced their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Finally, BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned 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 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.