ProShare Advisors LLC Sells 172 Shares of Trex Company, Inc. (NYSE:TREX)

ProShare Advisors LLC trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,126 shares of the construction company’s stock after selling 172 shares during the quarter. ProShare Advisors LLC’s holdings in Trex were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TREX. Franklin Resources Inc. bought a new position in shares of Trex during the 4th quarter valued at $1,563,000. Eagle Asset Management Inc. raised its holdings in Trex by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock worth $3,863,000 after purchasing an additional 119 shares during the period. KBC Group NV raised its holdings in Trex by 5.5% in the 4th quarter. KBC Group NV now owns 20,099 shares of the construction company’s stock worth $1,664,000 after purchasing an additional 1,051 shares during the period. Rafferty Asset Management LLC raised its holdings in Trex by 27.7% in the 4th quarter. Rafferty Asset Management LLC now owns 33,410 shares of the construction company’s stock worth $2,766,000 after purchasing an additional 7,254 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Trex by 6.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 32,384 shares of the construction company’s stock worth $2,681,000 after purchasing an additional 2,087 shares during the period. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Benchmark decreased their target price on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and decreased their target price for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. B. Riley decreased their price target on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group decreased their price target on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One analyst has 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. Based on data from MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus price target of $80.88.

Trex Stock Down 0.4 %

Shares of Trex stock opened at $67.46 on Thursday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.31 and a beta of 1.50. The business has a 50-day moving average price of $67.64 and a 200-day moving average price of $80.03. Trex Company, Inc. has a twelve month low of $53.59 and a twelve month high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that Trex Company, Inc. will post 2.03 EPS for the current fiscal year.

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.