Raymond James & Associates Raises Stock Position in Trex Company, Inc. (NYSE:TREX)

Raymond James & Associates boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,145 shares of the construction company’s stock after buying an additional 11,922 shares during the quarter. Raymond James & Associates’ holdings in Trex were worth $13,991,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TREX. Covestor Ltd lifted its stake in shares of Trex by 11.3% during the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after buying an additional 123 shares during the period. Harrington Investments INC increased its stake in shares of Trex by 1.4% during the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after purchasing an additional 140 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Trex by 4.6% during the first quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock worth $394,000 after purchasing an additional 173 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after purchasing an additional 176 shares in the last quarter. Finally, Values First Advisors Inc. increased its stake 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 worth $497,000 after purchasing an additional 230 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TREX has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group dropped their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Citigroup dropped their price objective on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Robert W. Baird dropped their price objective on shares of Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, B. Riley dropped their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.38.

Trex Trading Up 0.3 %

Shares of NYSE:TREX opened at $64.32 on Monday. Trex Company, Inc. has a 52 week low of $54.09 and a 52 week high of $101.91. The company’s 50 day moving average is $65.18 and its two-hundred day moving average is $75.91. The company has a market cap of $6.99 billion, a PE ratio of 27.61, a P/E/G ratio of 2.39 and a beta of 1.50.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.71 EPS. As a group, equities research analysts expect that Trex Company, Inc. will post 2.04 EPS for the current 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.