First Commonwealth Financial Corp PA Buys New Holdings in Trex Company, Inc. (NYSE:TREX)

First Commonwealth Financial Corp PA bought a new stake in Trex Company, Inc. (NYSE:TREX) during the first quarter, HoldingsChannel reports. The fund bought 3,000 shares of the construction company’s stock, valued at approximately $299,000.

Other large investors have also recently bought and sold shares of the company. Mather Group LLC. purchased a new stake in Trex in the first quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Trex in the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. boosted its position in Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares during the last quarter. Rise Advisors LLC boosted its position in Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after buying an additional 305 shares during the last quarter. Finally, Vestor Capital LLC purchased a new stake in Trex in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 5.1 %

Shares of TREX stock traded up $4.02 during trading hours on Friday, hitting $82.50. 982,486 shares of the company’s stock were exchanged, compared to its average volume of 853,530. The firm has a market cap of $8.97 billion, a P/E ratio of 35.52, a P/E/G ratio of 1.68 and a beta of 1.50. The firm has a 50 day moving average of $80.97 and a two-hundred day moving average of $87.12. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 56.5% compared to the same quarter last year. On average, equities analysts forecast that Trex Company, Inc. will post 2.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TREX. Barclays dropped their target price on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research report on Friday, July 12th. DA Davidson lowered their price objective on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Citigroup lowered their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird lowered their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, The Goldman Sachs Group lowered their price objective on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Trex currently has a consensus rating of “Hold” and an average target price of $88.76.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value of $1,494,396.00. Following the completion of the transaction, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.

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.