Eagle Asset Management Inc. Boosts Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Eagle Asset Management Inc. grew its stake in shares of Trex Company, Inc. (NYSE:TREX) by 20.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,653 shares of the construction company’s stock after buying an additional 7,902 shares during the quarter. Eagle Asset Management Inc.’s holdings in Trex were worth $3,394,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new position in shares of Trex in the second quarter worth $31,000. UMB Bank n.a. increased its position in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after acquiring an additional 392 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Trex during the second quarter valued at about $44,000. Quarry LP boosted its holdings in shares of Trex by 576.4% during 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 period. Finally, Mather Group LLC. grew its stake in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 6.7 %

TREX stock opened at $77.10 on Tuesday. The business has a 50 day moving average of $67.94 and a 200 day moving average of $73.18. The firm has a market cap of $8.26 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 3.29 and a beta of 1.49. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

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

Analysts Set New Price Targets

TREX has been the subject of several research analyst reports. Truist Financial dropped their price objective on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. DA Davidson lifted their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. BMO Capital Markets upped their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus decreased their price target 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and an average price target of $79.94.

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.