Rafferty Asset Management LLC Increases Stock Position in Trex Company, Inc. $TREX

Rafferty Asset Management LLC boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 118.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,710 shares of the construction company’s stock after acquiring an additional 47,066 shares during the quarter. Rafferty Asset Management LLC’s holdings in Trex were worth $4,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Trex by 3.2% during the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 period. CWM LLC lifted its stake in Trex by 16.8% during the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock valued at $62,000 after acquiring an additional 164 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Trex by 4.2% during 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 during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Trex by 3.9% in the second quarter. Teacher Retirement System of Texas now owns 16,294 shares of the construction company’s stock worth $886,000 after acquiring an additional 615 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Trading Down 1.2%

Shares of NYSE:TREX opened at $40.20 on Wednesday. The stock has a 50 day moving average of $40.88 and a 200 day moving average of $44.88. The company has a market cap of $4.25 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 9.35 and a beta of 1.58. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $68.78.

Trex (NYSE:TREX) last issued its quarterly 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. The business had revenue of $161.13 million for the quarter, compared to the consensus estimate of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Equities research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TREX shares. William Blair cut shares of Trex from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 5th. B. Riley Financial restated a “buy” rating and issued a $57.00 price target (down from $80.00) on shares of Trex in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft cut Trex from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Wednesday, November 5th. Bank of America reissued an “underperform” rating and issued a $36.00 target price (down from $67.00) on shares of Trex in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Trex from a “sell” rating to a “hold” rating in a research note on Saturday. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.73.

Trex Company 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.