Tidal Investments LLC Has $988,000 Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Tidal Investments LLC increased its position in Trex Company, Inc. (NYSE:TREX) by 73.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,836 shares of the construction company’s stock after buying an additional 6,263 shares during the quarter. Tidal Investments LLC’s holdings in Trex were worth $988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TREX. Renaissance Technologies LLC acquired a new position in Trex during the 2nd quarter worth about $19,475,000. L & S Advisors Inc bought a new position in shares of Trex during the third quarter worth about $1,000,000. Algert Global LLC lifted its stake in shares of Trex by 81.3% in the third quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock worth $5,746,000 after acquiring an additional 38,700 shares during the period. Curi RMB Capital LLC boosted its holdings in Trex by 27.2% in the third quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock valued at $4,537,000 after acquiring an additional 14,558 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in Trex by 237.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock valued at $3,534,000 after purchasing an additional 37,362 shares during the period. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TREX. BMO Capital Markets boosted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Jefferies Financial Group lowered their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, DA Davidson upped their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trex presently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Trading Down 1.0 %

Shares of NYSE:TREX opened at $70.94 on Friday. The stock’s fifty day simple moving average is $71.32 and its two-hundred day simple moving average is $71.82. The stock has a market cap of $7.60 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 3.50 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 issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex’s revenue was down 23.1% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share. On average, sell-side analysts forecast that Trex Company, Inc. will post 2.05 earnings per share 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.