BNP Paribas Financial Markets Acquires 69,073 Shares of Trex Company, Inc. (NYSE:TREX)

BNP Paribas Financial Markets increased its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 85.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 149,587 shares of the construction company’s stock after purchasing an additional 69,073 shares during the period. BNP Paribas Financial Markets’ holdings in Trex were worth $9,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TREX. Conestoga Capital Advisors LLC increased its holdings in Trex by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after purchasing an additional 60,405 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after buying an additional 122,658 shares during the period. Geneva Capital Management LLC grew its holdings in shares of Trex by 0.4% during the third quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company’s stock worth $106,031,000 after buying an additional 6,616 shares in the last quarter. FMR LLC raised its position in Trex by 6.0% in the 3rd quarter. FMR LLC now owns 1,262,920 shares of the construction company’s stock valued at $84,085,000 after buying an additional 71,761 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Trex by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after acquiring an additional 92,563 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. B. Riley lowered their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group dropped their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $79.94.

Trex Price Performance

NYSE:TREX opened at $75.03 on Monday. The company has a market cap of $8.04 billion, a P/E ratio of 34.26, a P/E/G ratio of 3.41 and a beta of 1.49. The firm’s fifty day moving average price is $68.61 and its two-hundred day moving average price is $72.67. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings results 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 business had revenue of $233.72 million for the quarter, compared to analyst estimates 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 business earned $0.57 EPS. As a group, equities research analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current 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.