Fisher Asset Management LLC Acquires 52,508 Shares of Trex Company, Inc. $TREX

Fisher Asset Management LLC increased its holdings in Trex Company, Inc. (NYSE:TREX) by 19.0% in the third quarter, HoldingsChannel reports. The firm owned 329,124 shares of the construction company’s stock after purchasing an additional 52,508 shares during the period. Fisher Asset Management LLC’s holdings in Trex were worth $17,006,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after buying an additional 177 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Trex by 91.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock valued at $47,803,000 after acquiring an additional 392,715 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Trex by 4.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 385,301 shares of the construction company’s stock valued at $20,953,000 after acquiring an additional 15,476 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Trex by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 16,294 shares of the construction company’s stock worth $886,000 after purchasing an additional 615 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Trex by 10,133.3% during the second quarter. Hantz Financial Services Inc. now owns 1,228 shares of the construction company’s stock worth $67,000 after purchasing an additional 1,216 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TREX shares. Zelman & Associates lowered shares of Trex from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 5th. Citigroup lifted their target price on shares of Trex from $39.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Bank of America reissued an “underperform” rating and set a $36.00 target price (down from $67.00) on shares of Trex in a research report on Wednesday, November 5th. B. Riley Financial reaffirmed a “buy” rating and issued a $57.00 price target (down from $80.00) on shares of Trex in a research report on Wednesday, November 5th. Finally, Vertical Research lowered Trex from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research note on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.73.

Trex Stock Performance

NYSE:TREX opened at $40.23 on Thursday. The firm’s 50-day moving average is $40.97 and its 200-day moving average is $44.85. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 9.23 and a beta of 1.58. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $68.78.

Trex (NYSE:TREX) last released its earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. Trex had a net margin of 16.22% and a return on equity of 20.29%. The business had revenue of $161.13 million during the quarter, compared to analysts’ expectations of $144.39 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Equities analysts predict that Trex Company, Inc. will post 2.04 EPS for the current year.

Trex Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.