Associated Banc Corp Boosts Position in Trex Company, Inc. (NYSE:TREX)

Associated Banc Corp grew its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,191 shares of the construction company’s stock after purchasing an additional 562 shares during the period. Associated Banc Corp’s holdings in Trex were worth $745,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Hantz Financial Services Inc. acquired a new position in shares of Trex during the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Trex during the second quarter worth about $44,000. Quarry LP boosted its position in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares during the period. 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 valued at $47,000 after buying an additional 370 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after buying an additional 392 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Bank of America cut their price objective 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 lowered their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Stifel Nicolaus cut their price target on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, 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 research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.94.

Trex Stock Performance

TREX stock opened at $77.10 on Tuesday. The stock’s fifty day moving average is $67.94 and its two-hundred day moving average is $73.18. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 3.29 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.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations 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 firm earned $0.57 EPS. As a group, analysts predict that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

About Trex

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.