Trex Company, Inc. (NYSE:TREX) Position Reduced by Creative Planning

Creative Planning cut its holdings in Trex Company, Inc. (NYSE:TREX) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 60,124 shares of the construction company’s stock after selling 160 shares during the period. Creative Planning’s holdings in Trex were worth $4,003,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. grew its position in Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Trex by 3.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,512 shares of the construction company’s stock valued at $1,647,000 after acquiring an additional 573 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Trex by 18.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 124,389 shares of the construction company’s stock worth $12,408,000 after purchasing an additional 19,286 shares in the last quarter. State of Michigan Retirement System lifted its position in Trex by 2.3% in the first quarter. State of Michigan Retirement System now owns 26,622 shares of the construction company’s stock worth $2,656,000 after purchasing an additional 600 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in Trex by 3.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,956 shares of the construction company’s stock valued at $3,587,000 after purchasing an additional 1,344 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. BMO Capital Markets cut their price objective on Trex from $82.00 to $67.00 and set a “market perform” rating for the company in a research report on Tuesday. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.38.

Trex Price Performance

Shares of Trex stock opened at $64.35 on Friday. The stock has a 50-day simple moving average of $65.18 and a 200-day simple moving average of $76.16. Trex Company, Inc. has a 52-week low of $54.09 and a 52-week high of $101.91. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 2.39 and a beta of 1.50.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. As a group, equities research analysts predict that Trex Company, Inc. will post 2.04 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.