Tower Research Capital LLC TRC reduced its position in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 49.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,040 shares of the construction company’s stock after selling 6,944 shares during the period. Tower Research Capital LLC TRC’s holdings in Trex were worth $309,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of TREX. Covestor Ltd lifted its holdings in Trex by 178.8% in the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after buying an additional 245 shares during the period. Quadrant Capital Group LLC lifted its holdings in Trex by 110.0% in the second quarter. Quadrant Capital Group LLC now owns 857 shares of the construction company’s stock worth $47,000 after buying an additional 449 shares during the period. Lazard Asset Management LLC purchased a new stake in Trex in the first quarter worth about $67,000. Exchange Traded Concepts LLC lifted its holdings in Trex by 19.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,560 shares of the construction company’s stock worth $69,000 after buying an additional 255 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Trex by 442.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,601 shares of the construction company’s stock worth $105,000 after buying an additional 1,306 shares during the period. 94.64% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. B. Riley decreased their target price on shares of Trex from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday. Credit Suisse Group restated an “underperform” rating and issued a $43.00 target price on shares of Trex in a report on Tuesday. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday. Robert W. Baird lifted their price target on shares of Trex from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Trex from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, January 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.24.
Trex Stock Performance
Trex (NYSE:TREX – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. Trex had a net margin of 16.69% and a return on equity of 31.41%. The company had revenue of $192.10 million during the quarter, compared to analysts’ expectations of $185.46 million. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s revenue was down 36.8% on a year-over-year basis. Equities analysts expect that Trex Company, Inc. will post 1.58 earnings per share for the current year.
About Trex
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
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