Park Avenue Securities LLC Acquires 1,566 Shares of Trex Company, Inc. (NYSE:TREX)

Park Avenue Securities LLC grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 26.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,444 shares of the construction company’s stock after purchasing an additional 1,566 shares during the quarter. Park Avenue Securities LLC’s holdings in Trex were worth $514,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Trex during the 3rd quarter valued at about $30,000. Eagle Bay Advisors LLC bought a new stake in Trex in the fourth quarter valued at approximately $41,000. UMB Bank n.a. boosted its stake in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the period. Quarry LP grew its holdings in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Trex by 274.9% in the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after buying an additional 514 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

NYSE:TREX opened at $74.51 on Friday. The firm’s 50-day moving average price is $72.01 and its 200-day moving average price is $70.14. The company has a market capitalization of $7.98 billion, a PE ratio of 34.02, a P/E/G ratio of 3.08 and a beta of 1.50. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The business’s revenue was down 23.1% compared to the same quarter last year. Equities analysts anticipate that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group dropped their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Robert W. Baird increased their target price on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. BMO Capital Markets boosted their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. DA Davidson increased their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average price target of $79.81.

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.