Trex Company, Inc. (NYSE:TREX) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its holdings in Trex Company, Inc. (NYSE:TREX) by 17.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 397,733 shares of the construction company’s stock after buying an additional 58,280 shares during the period. DAVENPORT & Co LLC’s holdings in Trex were worth $27,534,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TREX. Wasatch Advisors LP grew its position in shares of Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Trex by 6,093.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after purchasing an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Trex by 100.0% in the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after purchasing an additional 511,163 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after buying an additional 435,055 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Trex by 97.6% during the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after buying an additional 393,850 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TREX. Citigroup lowered their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets boosted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson raised their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Robert W. Baird lifted their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group cut their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.81.

Trex Trading Down 1.7 %

Shares of NYSE TREX opened at $72.80 on Monday. The company’s 50-day moving average price is $72.59 and its 200 day moving average price is $69.83. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 3.05 and a beta of 1.50.

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.