Entropy Technologies LP Acquires 12,468 Shares of Trex Company, Inc. (NYSE:TREX)

Entropy Technologies LP increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 287.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 16,811 shares of the construction company’s stock after acquiring an additional 12,468 shares during the period. Entropy Technologies LP’s holdings in Trex were worth $1,119,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TREX. Avantax Advisory Services Inc. boosted its holdings in shares of Trex by 4.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock worth $394,000 after buying an additional 173 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Trex by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 121,361 shares of the construction company’s stock worth $12,106,000 after acquiring an additional 5,568 shares in the last quarter. Trillium Asset Management LLC grew its holdings in Trex by 146.9% in the first quarter. Trillium Asset Management LLC now owns 133,295 shares of the construction company’s stock worth $13,296,000 after purchasing an additional 79,303 shares during the period. M&G Plc acquired a new stake in Trex in the first quarter worth $1,196,000. Finally, Jupiter Asset Management Ltd. bought a new stake in Trex in the first quarter valued at $10,519,000. 95.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TREX has been the subject of several research reports. Robert W. Baird raised their target price on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Barclays cut their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, Stifel Nicolaus decreased their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.94.

Trex Stock Performance

Shares of TREX opened at $72.64 on Thursday. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The business has a 50-day moving average of $67.06 and a 200 day moving average of $74.36. The firm has a market cap of $7.78 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 3.29 and a beta of 1.49.

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, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. As a group, research analysts predict that Trex Company, Inc. will post 2.05 earnings per share 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.