LPL Financial LLC decreased its holdings in shares of Trex Company Inc (NYSE:TREX) by 23.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,674 shares of the construction company’s stock after selling 2,970 shares during the quarter. LPL Financial LLC’s holdings in Trex were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. First Citizens Bank & Trust Co. bought a new stake in Trex during the 3rd quarter valued at $204,000. DAVENPORT & Co LLC bought a new stake in Trex during the 3rd quarter valued at $212,000. US Bancorp DE raised its holdings in Trex by 100.0% during the 2nd quarter. US Bancorp DE now owns 3,084 shares of the construction company’s stock valued at $193,000 after acquiring an additional 1,542 shares during the period. Stevens Capital Management LP bought a new stake in Trex during the 3rd quarter valued at $251,000. Finally, First Republic Investment Management Inc. bought a new stake in Trex during the 2nd quarter valued at $210,000. 89.55% of the stock is currently owned by institutional investors and hedge funds.
TREX has been the topic of several research analyst reports. ValuEngine raised shares of Trex from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. SunTrust Banks decreased their price target on shares of Trex to $58.00 and set a “hold” rating on the stock in a report on Tuesday, October 30th. Sidoti raised shares of Trex from a “neutral” rating to a “buy” rating in a report on Tuesday, October 30th. Finally, Jefferies Financial Group initiated coverage on shares of Trex in a report on Wednesday. They issued a “hold” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Trex presently has a consensus rating of “Hold” and a consensus target price of $40.29.
Trex (NYSE:TREX) last announced its earnings results on Monday, October 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. Trex had a net margin of 19.16% and a return on equity of 46.55%. The company had revenue of $166.38 million during the quarter, compared to analyst estimates of $173.10 million. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, analysts predict that Trex Company Inc will post 2.29 EPS for the current fiscal year.
Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.
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