Tidal Investments LLC Has $988,000 Stake in Trex Company, Inc. (NYSE:TREX)

Tidal Investments LLC increased its stake in Trex Company, Inc. (NYSE:TREX) by 73.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,836 shares of the construction company’s stock after purchasing an additional 6,263 shares during the period. Tidal Investments LLC’s holdings in Trex were worth $988,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Trex in the third quarter valued at about $30,000. Hantz Financial Services Inc. bought a new stake in Trex in the 2nd quarter valued at approximately $31,000. UMB Bank n.a. lifted its stake in Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Trex during the 2nd quarter worth approximately $44,000. Finally, Quarry LP grew its stake in shares of Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after acquiring an additional 513 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

TREX has been the subject of several recent research reports. Barclays reduced their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. DA Davidson increased 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. 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 research report on Wednesday, October 9th. BMO Capital Markets increased their price target 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, Robert W. Baird raised their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Stock Performance

TREX opened at $70.94 on Friday. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The firm has a market cap of $7.60 billion, a P/E ratio of 32.39, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. The business’s fifty day moving average is $71.32 and its 200-day moving average is $71.82.

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

Trex 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.