BNP Paribas Financial Markets Has $9.96 Million Stock Position in Trex Company, Inc. (NYSE:TREX)

BNP Paribas Financial Markets lifted its stake in Trex Company, Inc. (NYSE:TREX) by 85.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,587 shares of the construction company’s stock after buying an additional 69,073 shares during the period. BNP Paribas Financial Markets owned about 0.14% of Trex worth $9,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hantz Financial Services Inc. bought a new stake in Trex in the second quarter valued at $31,000. UMB Bank n.a. grew its holdings in shares of Trex by 150.8% in 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 during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex during the 2nd quarter worth about $44,000. Quarry LP increased 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 worth $45,000 after purchasing an additional 513 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of Trex stock opened at $75.03 on Monday. The firm has a fifty day moving average of $68.61 and a two-hundred day moving average of $72.67. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 3.41 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 released its quarterly earnings data 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 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was down 23.1% on a year-over-year basis. As a group, research analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TREX shares. Truist Financial dropped their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Robert W. Baird boosted their price objective on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Jefferies Financial Group lowered their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, Benchmark reduced their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trex presently has a consensus 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.