Walleye Capital LLC Has $326,000 Stake in Trex Company, Inc. (NYSE:TREX)

Walleye Capital LLC reduced its position in Trex Company, Inc. (NYSE:TREXGet Rating) by 66.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,992 shares of the construction company’s stock after selling 11,977 shares during the quarter. Walleye Capital LLC’s holdings in Trex were worth $326,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TREX. Covestor Ltd boosted its position in shares of Trex by 178.8% during the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after acquiring an additional 245 shares in the last quarter. Spire Wealth Management bought a new position in Trex during the second quarter worth about $26,000. Parallel Advisors LLC boosted its holdings in Trex by 30.4% during the second quarter. Parallel Advisors LLC now owns 773 shares of the construction company’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Prospera Financial Services Inc bought a new stake in shares of Trex in the 1st quarter valued at approximately $55,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Trex by 1,264.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,201 shares of the construction company’s stock worth $65,000 after buying an additional 1,113 shares in the last quarter. Institutional investors own 98.58% of the company’s stock.

Trex Trading Down 6.1 %

Trex stock opened at $44.44 on Friday. Trex Company, Inc. has a 1 year low of $38.68 and a 1 year high of $140.98. The company’s 50-day moving average is $46.40 and its two-hundred day moving average is $53.57. The company has a market cap of $4.88 billion, a PE ratio of 25.25, a PEG ratio of 9.72 and a beta of 1.47.

Analysts Set New Price Targets

Several brokerages recently commented on TREX. Truist Financial decreased their price target on Trex from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, October 6th. Credit Suisse Group cut shares of Trex from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $65.00 to $43.00 in a research report on Friday, October 14th. B. Riley reduced their price target on shares of Trex from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, November 1st. Bank of America dropped their price objective on shares of Trex from $50.00 to $45.00 in a report on Tuesday, October 18th. Finally, BMO Capital Markets reduced their target price on Trex from $65.00 to $58.00 and set a “market perform” rating on the stock in a report on Wednesday, November 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.17.

Trex 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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