Trex Company, Inc. (NYSE:TREX) Shares Bought by KBC Group NV

KBC Group NV raised its position in shares of Trex Company, Inc. (NYSE:TREX) by 336.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,719 shares of the construction company’s stock after purchasing an additional 39,108 shares during the quarter. KBC Group NV’s holdings in Trex were worth $3,377,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Avantax Advisory Services Inc. raised its position in Trex by 4.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock worth $394,000 after buying an additional 173 shares during the last quarter. M&G Plc purchased a new position in shares of Trex during the first quarter worth $1,196,000. Vanguard Group Inc. lifted its position in Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after purchasing an additional 65,428 shares during the period. Acadian Asset Management LLC acquired a new stake in Trex during the 1st quarter worth about $536,000. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of Trex by 559.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 17,292 shares of the construction company’s stock valued at $1,725,000 after buying an additional 14,669 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TREX has been the topic of a number of recent research reports. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Stifel Nicolaus decreased their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group cut their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Stock Down 3.6 %

Trex stock opened at $68.23 on Monday. The company has a fifty day simple moving average of $67.39 and a 200-day simple moving average of $73.98. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 3.10 and a beta of 1.49. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91.

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

Trex Company 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.