Nicolet Advisory Services LLC Boosts Holdings in Trex Company, Inc. (NYSE:TREX)

Nicolet Advisory Services LLC boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,809 shares of the construction company’s stock after purchasing an additional 389 shares during the period. Nicolet Advisory Services LLC’s holdings in Trex were worth $532,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Citigroup Inc. grew its holdings in shares of Trex by 42.3% during the third quarter. Citigroup Inc. now owns 68,775 shares of the construction company’s stock valued at $4,579,000 after buying an additional 20,445 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Trex by 20.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 46,653 shares of the construction company’s stock valued at $3,394,000 after purchasing an additional 7,902 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Trex by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,070 shares of the construction company’s stock valued at $60,060,000 after purchasing an additional 27,992 shares during the last quarter. L & S Advisors Inc bought a new stake in shares of Trex in the 3rd quarter worth $1,000,000. Finally, Landscape Capital Management L.L.C. raised its stake in shares of Trex by 339.9% in the third quarter. Landscape Capital Management L.L.C. now owns 76,545 shares of the construction company’s stock worth $5,096,000 after purchasing an additional 59,145 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of TREX stock opened at $72.25 on Friday. The stock has a fifty day simple moving average of $67.94 and a two-hundred day simple moving average of $73.44. The firm has a market capitalization of $7.74 billion, a PE ratio of 32.99, a PEG ratio of 3.20 and a beta of 1.49. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was down 23.1% on a year-over-year basis. On average, sell-side analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TREX shares. JPMorgan Chase & Co. dropped their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Stifel Nicolaus lowered their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays cut their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Finally, Benchmark lowered their price target on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.94.

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.