Cerity Partners LLC Decreases Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Cerity Partners LLC lessened its holdings in Trex Company, Inc. (NYSE:TREX) by 13.7% during the third quarter, HoldingsChannel.com reports. The fund owned 441,506 shares of the construction company’s stock after selling 69,948 shares during the quarter. Cerity Partners LLC’s holdings in Trex were worth $29,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. acquired a new position in Trex during the 2nd quarter worth approximately $31,000. UMB Bank n.a. raised its stake in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Trex during the second quarter worth $44,000. Quarry LP boosted its stake in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the period. Finally, Mather Group LLC. grew its holdings in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group cut their price target on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets upped their target price on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. DA Davidson raised their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Bank of America dropped their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays reduced their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Two investment 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 currently has an average rating of “Hold” and an average price target of $79.94.

Trex Stock Performance

Shares of TREX stock opened at $72.25 on Monday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The firm has a market capitalization of $7.74 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 3.29 and a beta of 1.49. The stock has a fifty day moving average of $67.94 and a two-hundred day moving average of $73.18.

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