Point72 Asset Management L.P. Grows Position in Trex Company, Inc. (NYSE:TREX)

Point72 Asset Management L.P. boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 100.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,022,459 shares of the construction company’s stock after acquiring an additional 511,163 shares during the quarter. Point72 Asset Management L.P.’s holdings in Trex were worth $68,075,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Wasatch Advisors LP increased its position in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after buying an additional 1,015,516 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Trex by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after buying an additional 60,405 shares in the last quarter. American Century Companies Inc. increased its position in shares of Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after buying an additional 122,658 shares in the last quarter. Geneva Capital Management LLC increased its position in shares of Trex by 0.4% in the third quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company’s stock valued at $106,031,000 after buying an additional 6,616 shares in the last quarter. Finally, FMR LLC increased its position in shares of Trex by 6.0% in the third 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 in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TREX. DA Davidson raised their price target on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. BMO Capital Markets lifted their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, Stephens cut Trex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Price Performance

NYSE TREX opened at $76.14 on Thursday. The firm has a market capitalization of $8.16 billion, a P/E ratio of 34.77, a P/E/G ratio of 3.51 and a beta of 1.49. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The business’s 50-day simple moving average is $69.07 and its 200-day simple moving average is $72.53.

Trex (NYSE:TREX) last released its quarterly earnings data 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 business had revenue of $233.72 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. On average, equities research analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal 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.