Credit Suisse AG Lowers Holdings in Trex Company, Inc. (NYSE:TREX)

Credit Suisse AG trimmed its position in Trex Company, Inc. (NYSE:TREX – Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 259,986 shares of the construction company’s stock after selling 3,031 shares during the quarter. Credit Suisse AG owned 0.24% of Trex worth $12,654,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Capula Management Ltd purchased a new stake in shares of Trex in the 1st quarter worth $266,000. LPL Financial LLC lifted its holdings in shares of Trex by 42.1% in the 1st quarter. LPL Financial LLC now owns 39,215 shares of the construction company’s stock worth $1,909,000 after buying an additional 11,614 shares during the period. Impax Asset Management Group plc purchased a new stake in shares of Trex in the 1st quarter worth $53,353,000. Principal Financial Group Inc. lifted its holdings in shares of Trex by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 710,148 shares of the construction company’s stock worth $34,563,000 after buying an additional 6,250 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Trex by 146.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 8,124 shares of the construction company’s stock worth $395,000 after buying an additional 4,826 shares during the period. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

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Trex Stock Performance

Shares of TREX stock opened at $68.53 on Friday. The stock’s 50-day simple moving average is $68.09 and its 200-day simple moving average is $58.23. The firm has a market capitalization of $7.44 billion, a PE ratio of 52.31, a P/E/G ratio of 3.09 and a beta of 1.52. Trex Company, Inc. has a fifty-two week low of $38.68 and a fifty-two week high of $76.05.

Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings data on Monday, July 31st. The construction company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. The business had revenue of $356.54 million for the quarter, compared to analyst estimates of $318.89 million. Trex had a return on equity of 28.15% and a net margin of 14.62%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. Sell-side analysts forecast that Trex Company, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TREX. Robert W. Baird boosted their price target on Trex from $78.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. Stifel Nicolaus boosted their price target on Trex from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. TheStreet raised Trex from a “c+” rating to a “b-” rating in a research report on Monday, July 31st. Credit Suisse Group boosted their price target on Trex from $47.00 to $58.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 2nd. Finally, UBS Group boosted their price target on Trex from $56.00 to $59.00 in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.56.

Get Our Latest Stock Analysis on TREX

Trex Profile

(Free Report)

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.

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