Trex Company, Inc. (NYSE:TREX) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its holdings in Trex Company, Inc. (NYSE:TREX) by 75.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,546 shares of the construction company’s stock after selling 20,439 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Trex were worth $436,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wasatch Advisors LP lifted its position in 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 during the last quarter. State Street Corp increased its position in shares of Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock valued at $211,954,000 after acquiring an additional 37,436 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Trex by 3.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after acquiring an additional 60,405 shares during the period. American Century Companies Inc. lifted its holdings in shares of Trex by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after acquiring an additional 122,658 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its position in shares of Trex by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company’s stock worth $106,031,000 after purchasing an additional 6,616 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of NYSE TREX opened at $77.57 on Tuesday. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. The business has a 50-day moving average of $70.78 and a two-hundred day moving average of $71.89.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share 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 return on equity of 28.89% and a net margin of 20.23%. The firm’s revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. As a group, equities research analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Wall Street Analyst Weigh In

TREX has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets increased their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Robert W. Baird boosted their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, DA Davidson raised their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.94.

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.