SG Americas Securities LLC Trims Stock Holdings in Trex Company, Inc. (NYSE:TREX)

SG Americas Securities LLC trimmed its holdings in Trex Company, Inc. (NYSE:TREXGet Rating) by 44.1% in the third quarter, Holdings Channel reports. The institutional investor owned 15,338 shares of the construction company’s stock after selling 12,106 shares during the quarter. SG Americas Securities LLC’s holdings in Trex were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd grew its stake in Trex by 178.8% in the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after buying an additional 245 shares in the last quarter. Spire Wealth Management purchased a new position in Trex in the 2nd quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in Trex by 30.4% in the 2nd quarter. Parallel Advisors LLC now owns 773 shares of the construction company’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Trex by 110.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 857 shares of the construction company’s stock valued at $47,000 after buying an additional 449 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in Trex by 1,264.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,201 shares of the construction company’s stock valued at $65,000 after buying an additional 1,113 shares in the last quarter. 94.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Credit Suisse Group lowered shares of Trex from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $65.00 to $43.00 in a research report on Friday, October 14th. Bank of America dropped their price objective on shares of Trex from $50.00 to $45.00 in a report on Tuesday, October 18th. Truist Financial dropped their price objective on shares of Trex from $85.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, October 6th. Barclays dropped their price objective on shares of Trex from $53.00 to $51.00 in a report on Wednesday, December 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Trex from $75.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, January 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.88.

Trex Trading Up 4.0 %

TREX stock opened at $50.72 on Friday. The firm’s 50-day moving average price is $45.50 and its two-hundred day moving average price is $49.13. Trex Company, Inc. has a 12-month low of $38.68 and a 12-month high of $96.88. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 11.53 and a beta of 1.43.

Trex (NYSE:TREXGet Rating) last released its quarterly earnings data on Monday, October 31st. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Trex had a net margin of 16.39% and a return on equity of 36.18%. The firm had revenue of $188.47 million during the quarter, compared to analysts’ expectations of $194.74 million. Equities analysts predict that Trex Company, Inc. will post 1.77 EPS for the current year.

Trex Company Profile

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Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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