Barclays PLC Buys 12,085 Shares of Trex Company, Inc. (NYSE:TREX)

Barclays PLC boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 8.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 149,623 shares of the construction company’s stock after purchasing an additional 12,085 shares during the quarter. Barclays PLC’s holdings in Trex were worth $9,961,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new position in Trex in the second quarter valued at about $31,000. UMB Bank n.a. raised its holdings in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after buying an additional 392 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Trex in the second quarter valued at approximately $44,000. Quarry LP boosted its holdings in shares of 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 buying an additional 513 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Trex by 51.4% during the second quarter. Blue Trust Inc. now owns 754 shares of the construction company’s stock worth $56,000 after acquiring an additional 256 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of research analyst reports. BMO Capital Markets upped their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. DA Davidson boosted their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Robert W. Baird raised their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Up 0.8 %

TREX opened at $77.57 on Tuesday. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The business has a 50 day moving average of $70.78 and a 200-day moving average of $71.89. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 3.50 and a beta of 1.49.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted $0.57 EPS. The company’s quarterly revenue was down 23.1% on a year-over-year basis. As a group, analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current year.

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.