Oppenheimer Asset Management Inc. Increases Stock Holdings in Trex Company, Inc. (NYSE:TREX)

Oppenheimer Asset Management Inc. increased its holdings in Trex Company, Inc. (NYSE:TREX) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,329 shares of the construction company’s stock after acquiring an additional 10,454 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.05% of Trex worth $3,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of Trex by 11.3% during the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock valued at $121,000 after acquiring an additional 123 shares in the last quarter. Harrington Investments INC lifted its position in shares of Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after buying an additional 140 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Trex by 4.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock valued at $394,000 after buying an additional 173 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Trex by 2.6% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after purchasing an additional 176 shares in the last quarter. Finally, Values First Advisors Inc. lifted its holdings in Trex by 3.6% in the 2nd quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Trading Down 3.6 %

NYSE TREX opened at $68.22 on Friday. The business’s 50 day moving average is $67.39 and its two-hundred day moving average is $74.18. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 3.30 and a beta of 1.49.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. Equities analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

TREX has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Bank of America dropped their price objective on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group lowered their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Stifel Nicolaus lowered their target price on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.94.

Trex Company 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.