Point72 Hong Kong Ltd Has $2.35 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Point72 Hong Kong Ltd reduced its stake in Trex Company, Inc. (NYSE:TREX) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,293 shares of the construction company’s stock after selling 953 shares during the period. Point72 Hong Kong Ltd’s holdings in Trex were worth $2,350,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in Trex in the 2nd quarter valued at $726,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Trex by 69.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock valued at $2,073,000 after acquiring an additional 11,455 shares in the last quarter. Renaissance Technologies LLC bought a new position in Trex during the second quarter worth about $19,475,000. L & S Advisors Inc acquired a new stake in Trex in the 3rd quarter worth about $1,000,000. Finally, Algert Global LLC boosted its holdings in Trex by 81.3% in the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock valued at $5,746,000 after purchasing an additional 38,700 shares during the period. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TREX. Bank of America lowered their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Robert W. Baird increased their target price on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. B. Riley dropped their price target on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus cut their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $79.94.

Trex Stock Up 0.8 %

NYSE TREX opened at $75.03 on Monday. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91. The business’s fifty day moving average is $68.61 and its 200 day moving average is $72.67. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.41 and a beta of 1.49.

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