HighTower Advisors LLC Purchases 2,072 Shares of Trex Company, Inc. (NYSE:TREX)

HighTower Advisors LLC boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 18.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,413 shares of the construction company’s stock after purchasing an additional 2,072 shares during the quarter. HighTower Advisors LLC’s holdings in Trex were worth $892,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Hantz Financial Services Inc. bought a new stake in shares of Trex in the second quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new position in Trex in the 2nd quarter valued at $44,000. Quarry LP lifted its position in shares of Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the period. UMB Bank n.a. grew its holdings in shares of Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after purchasing an additional 392 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Trex by 51.4% in the second quarter. Blue Trust Inc. now owns 754 shares of the construction company’s stock worth $56,000 after purchasing an additional 256 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of NYSE TREX opened at $76.86 on Wednesday. The firm has a 50 day moving average price of $70.78 and a two-hundred day moving average price of $71.89. The stock has a market cap of $8.23 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. Analysts predict that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. DA Davidson lifted their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays decreased their price target on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Finally, BMO Capital Markets upped their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Two research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.94.

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.