Point72 Hong Kong Ltd Has $2.35 Million Stake in Trex Company, Inc. (NYSE:TREX)

Point72 Hong Kong Ltd lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 2.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 35,293 shares of the construction company’s stock after selling 953 shares during the period. Point72 Hong Kong Ltd’s holdings in Trex were worth $2,350,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. bought a new stake in Trex in the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Trex in the second quarter valued at $44,000. Quarry LP raised its stake in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after acquiring an additional 513 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after acquiring an additional 370 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets lifted 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. B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Trex has an average rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Trex stock opened at $75.03 on Monday. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 3.41 and a beta of 1.49. The firm has a 50-day moving average of $68.61 and a 200-day moving average of $72.67. Trex Company, Inc. has a one year low of $58.68 and a one year high of $101.91.

Trex (NYSE:TREX) last posted its quarterly 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. The firm had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business’s revenue was down 23.1% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. As a group, sell-side analysts expect that Trex Company, Inc. will post 2.05 earnings per share for the current year.

About Trex

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.