Trex Company, Inc. (NYSE:TREX) Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 514.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 211,579 shares of the construction company’s stock after acquiring an additional 177,136 shares during the period. Cubist Systematic Strategies LLC owned 0.19% of Trex worth $15,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Trex by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after acquiring an additional 65,428 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Trex by 3.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after acquiring an additional 60,405 shares during the last quarter. American Century Companies Inc. grew its stake in Trex by 7.1% in the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after acquiring an additional 122,658 shares during the last quarter. TD Asset Management Inc grew its stake in Trex by 516.8% in the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after acquiring an additional 1,341,419 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Trex by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after purchasing an additional 92,563 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TREX shares. The Goldman Sachs Group decreased their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Citigroup decreased their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Benchmark cut their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Bank of America cut their price objective on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Trex has a consensus rating of “Hold” and an average target price of $80.88.

Trex Stock Performance

NYSE TREX opened at $69.81 on Wednesday. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91. The company’s 50 day moving average price is $69.10 and its 200 day moving average price is $81.02. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 2.37 and a beta of 1.50.

Trex (NYSE:TREX) last posted 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. The company had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. Sell-side analysts forecast that Trex Company, Inc. will post 2.03 EPS 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.