Trex Company, Inc. (NYSE:TREX) Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC increased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 0.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 657,072 shares of the construction company’s stock after acquiring an additional 346 shares during the period. Eventide Asset Management LLC’s holdings in Trex were worth $43,748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harrington Investments INC lifted its position in Trex by 1.4% during 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 in 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 valued at $523,000 after purchasing an additional 176 shares during the period. First Horizon Advisors Inc. increased its position in Trex by 8.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after acquiring an additional 184 shares during the period. Values First Advisors Inc. increased its holdings in shares of Trex by 3.6% during the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock valued at $497,000 after purchasing an additional 230 shares during the period. Finally, ABLE Financial Group LLC raised its position 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 worth $519,000 after buying an additional 240 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Stock Performance

TREX stock opened at $74.43 on Friday. The firm has a 50 day simple moving average of $68.49 and a 200 day simple moving average of $73.00. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91. The stock has a market cap of $7.97 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.39 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. 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 prior year, the firm earned $0.57 EPS. The company’s revenue was down 23.1% compared to the same quarter last year. Sell-side analysts predict that Trex Company, Inc. will post 2.05 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on TREX shares. Barclays dropped 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. JPMorgan Chase & Co. cut their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Stifel Nicolaus cut their price objective on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group reduced their price objective on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.94.

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.