Trex Company, Inc. (NYSE:TREX) Shares Bought by Eventide Asset Management LLC

Eventide Asset Management LLC raised its holdings in Trex Company, Inc. (NYSE:TREX) by 0.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 657,072 shares of the construction company’s stock after acquiring an additional 346 shares during the quarter. Eventide Asset Management LLC owned 0.61% of Trex worth $43,748,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new stake in Trex in the second quarter valued at $31,000. UMB Bank n.a. lifted its holdings in Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after acquiring an additional 392 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Trex in the second quarter valued at $44,000. Quarry LP lifted its holdings in Trex by 576.4% in the second 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. Finally, Mather Group LLC. lifted its holdings in Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after acquiring an additional 370 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

TREX has been the subject of a number of research analyst reports. Truist Financial dropped their price target on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group dropped their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. DA Davidson raised their price target on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barclays dropped their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two investment analysts have 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

TREX opened at $74.43 on Friday. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 3.39 and a beta of 1.49. The business has a 50-day moving average of $68.49 and a two-hundred day moving average of $73.00. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.57 EPS. Equities research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current 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.