Independent Advisor Alliance Sells 1,097 Shares of Trex Company, Inc. (NYSE:TREX)

Independent Advisor Alliance decreased its position in Trex Company, Inc. (NYSE:TREX) by 13.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,860 shares of the construction company’s stock after selling 1,097 shares during the period. Independent Advisor Alliance’s holdings in Trex were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of Trex during the 2nd quarter valued at about $19,475,000. Impax Asset Management Group plc boosted its holdings in shares of Trex by 44.2% during the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock worth $54,753,000 after buying an additional 252,262 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Trex by 39.1% during the 2nd quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock worth $57,375,000 after buying an additional 217,767 shares during the period. Achmea Investment Management B.V. bought a new stake in shares of Trex in the 2nd quarter valued at $15,635,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Trex by 514.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 211,579 shares of the construction company’s stock valued at $15,682,000 after acquiring an additional 177,136 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TREX. Stephens cut shares of Trex from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Barclays reduced their target price on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Stifel Nicolaus cut their price target on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report 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 note on Monday, August 12th. Finally, B. Riley cut their target price on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Stock Performance

Trex stock opened at $74.43 on Friday. Trex Company, Inc. has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The firm’s 50-day simple moving average is $68.43 and its 200 day simple moving average is $72.99. The stock has a market cap of $7.97 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $233.72 million for 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%. The company’s revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. As a group, analysts predict that Trex Company, Inc. will post 2.05 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.