Commonwealth Equity Services LLC Sells 414 Shares of Trex Company, Inc. (NYSE:TREX)

Commonwealth Equity Services LLC lessened its stake in shares of Trex Company, Inc. (NYSE:TREX) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,542 shares of the construction company’s stock after selling 414 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Trex were worth $2,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TREX. V Square Quantitative Management LLC bought a new position in shares of Trex during the 4th quarter worth approximately $25,000. Mather Group LLC. bought a new position in shares of Trex during the 1st quarter worth approximately $26,000. Hantz Financial Services Inc. bought a new position in shares of Trex during the 2nd quarter worth approximately $31,000. Sunbelt Securities Inc. lifted its position in shares of Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after buying an additional 314 shares during the period. Finally, Rise Advisors LLC lifted its position in shares of Trex by 305.0% during the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after buying an additional 305 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Stock Down 0.4 %

Shares of Trex stock opened at $63.54 on Thursday. Trex Company, Inc. has a 12 month low of $53.59 and a 12 month high of $101.91. The business has a fifty day simple moving average of $70.76 and a 200 day simple moving average of $82.89. The stock has a market cap of $6.91 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 2.07 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts expect that Trex Company, Inc. will post 2.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TREX. Robert W. Baird cut their price objective on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Benchmark cut their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. B. Riley cut their price objective on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, BMO Capital Markets cut their price objective on Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.88.

Trex 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.