Ballentine Partners LLC Boosts Stock Position in Trex Company, Inc. (NYSE:TREX)

Ballentine Partners LLC boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 15.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,139 shares of the construction company’s stock after buying an additional 422 shares during the quarter. Ballentine Partners LLC’s holdings in Trex were worth $209,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after purchasing an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after acquiring an additional 60,405 shares during the last quarter. American Century Companies Inc. boosted its position in Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after acquiring an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Trex by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after acquiring an additional 92,563 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Trex by 0.6% during the second quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after acquiring an additional 6,901 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TREX shares. DA Davidson lifted their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Truist Financial decreased their target price on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. UBS Group cut their target price 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, Jefferies Financial Group cut their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Trading Up 6.2 %

Shares of TREX stock opened at $70.63 on Wednesday. Trex Company, Inc. has a 1-year low of $54.57 and a 1-year high of $101.91. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.45 and a beta of 1.50. The stock’s fifty day simple moving average is $65.23 and its 200-day simple moving average is $75.72.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, sell-side analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

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.