Oppenheimer Asset Management Inc. Raises Holdings in Trex Company, Inc. (NYSE:TREX)

Oppenheimer Asset Management Inc. increased its position in shares of Trex Company, Inc. (NYSE:TREX) by 36.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,875 shares of the construction company’s stock after purchasing an additional 12,082 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Trex were worth $3,326,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. acquired a new position in Trex during the first quarter worth $26,000. V Square Quantitative Management LLC acquired a new position in Trex during the fourth quarter worth $25,000. Sunbelt Securities Inc. boosted its stake in Trex by 1,744.4% during the first 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 last quarter. Rise Advisors LLC boosted its stake in Trex by 305.0% during the first 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 last quarter. Finally, Hantz Financial Services Inc. acquired a new position in Trex during the second quarter worth $31,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Trading Up 0.2 %

TREX opened at $66.22 on Tuesday. The stock’s 50-day moving average price is $70.38 and its 200 day moving average price is $82.28. Trex Company, Inc. has a 12-month low of $53.59 and a 12-month high of $101.91. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.18 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. During the same quarter in the prior year, the business earned $0.71 EPS. Trex’s revenue was up 5.6% on a year-over-year basis. On average, research analysts forecast that Trex Company, Inc. will post 2.03 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Robert W. Baird lowered their price objective on Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. B. Riley lowered their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays decreased their price target on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. UBS Group decreased their price target on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their price target on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. 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 stock. Based on data from MarketBeat.com, Trex currently has an average rating of “Hold” and an average price target of $80.88.

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.