Fisher Asset Management LLC Boosts Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Fisher Asset Management LLC grew its position in shares of Trex Company, Inc. (NYSE:TREX) by 22.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,296 shares of the construction company’s stock after buying an additional 21,597 shares during the quarter. Fisher Asset Management LLC owned 0.11% of Trex worth $7,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TREX. Harrington Investments INC boosted its holdings in Trex by 1.4% in the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after purchasing an additional 140 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Trex by 2.6% in the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after purchasing an additional 176 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock worth $152,000 after purchasing an additional 184 shares during the last quarter. Values First Advisors Inc. boosted its holdings in Trex by 3.6% in the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after purchasing an additional 230 shares during the last quarter. Finally, ABLE Financial Group LLC boosted its holdings in Trex by 3.6% in the second quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock worth $519,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of TREX stock opened at $74.43 on Friday. The company has a market capitalization of $7.97 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.51 and a beta of 1.49. The company’s 50-day simple moving average is $68.43 and its two-hundred day simple moving average is $72.99. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. On average, research analysts expect that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TREX. UBS Group cut their price objective 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. Stifel Nicolaus dropped their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Robert W. Baird upped their target price on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.94.

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.