Lombard Odier Asset Management Europe Ltd Purchases 53,815 Shares of Trex Company, Inc. (NYSE:TREX)

Lombard Odier Asset Management Europe Ltd boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 92.6% in the 2nd quarter, Holdings Channel reports. The firm owned 111,919 shares of the construction company’s stock after buying an additional 53,815 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Trex were worth $8,295,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Trex by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after buying an additional 65,428 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Trex by 19.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock valued at $339,638,000 after acquiring an additional 660,536 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Trex by 3.2% during the 2nd 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. increased its holdings 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 worth $136,631,000 after purchasing an additional 122,658 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Trex by 516.8% in the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock valued at $132,545,000 after purchasing an additional 1,341,419 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TREX. Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group cut their target price on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Robert W. Baird lowered their price objective on Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.88.

Trex Stock Performance

Shares of NYSE:TREX opened at $69.15 on Monday. The firm has a market cap of $7.52 billion, a P/E ratio of 29.68, a PEG ratio of 2.25 and a beta of 1.50. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The business’s 50 day simple moving average is $69.65 and its two-hundred day simple moving average is $81.38.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 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 business had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same quarter in the previous year, the business posted $0.71 EPS. Trex’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Trex Company, Inc. will post 2.03 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.