Eagle Bay Advisors LLC Takes $41,000 Position in Trex Company, Inc. (NYSE:TREX)

Eagle Bay Advisors LLC bought a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 595 shares of the construction company’s stock, valued at approximately $41,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Wasatch Advisors LP boosted its stake in shares of Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after buying an additional 1,015,516 shares during the last quarter. State Street Corp raised its holdings in Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Geode Capital Management LLC boosted its position in Trex by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after purchasing an additional 35,039 shares during the last quarter. Geneva Capital Management LLC grew its stake in Trex by 0.4% in the third quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company’s stock valued at $106,031,000 after purchasing an additional 6,616 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Trex by 6.0% during the 3rd quarter. FMR LLC now owns 1,262,920 shares of the construction company’s stock worth $84,085,000 after purchasing an additional 71,761 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Trading Up 1.2 %

Shares of TREX stock opened at $65.35 on Tuesday. The stock has a market cap of $7.00 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 3.50 and a beta of 1.50. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The stock has a 50 day simple moving average of $72.28 and a 200 day simple moving average of $70.22.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share 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 firm had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was down 23.1% compared to the same quarter last year. Analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TREX shares. Robert W. Baird upped their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays lowered their price target on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group decreased their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.81.

Trex Company 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.