Prudential PLC Buys New Shares in Trex Company, Inc. (NYSE:TREX)

Prudential PLC bought a new stake in shares of Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,186 shares of the construction company’s stock, valued at approximately $607,000.

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

Analyst Upgrades and Downgrades

TREX has been the topic of several analyst reports. Stifel Nicolaus lowered their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday. Robert W. Baird lowered their target price on shares of Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Loop Capital lowered shares of Trex from a “buy” rating to a “hold” rating and lowered their target price for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Finally, Barclays lowered their target price on shares of Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.88.

Trex Stock Performance

Shares of TREX stock opened at $64.12 on Friday. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The stock has a market cap of $6.97 billion, a PE ratio of 27.52, a PEG ratio of 2.07 and a beta of 1.50. The firm’s 50 day moving average price is $70.61 and its two-hundred day moving average price is $82.76.

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