Raymond James & Associates Has $12.16 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Raymond James & Associates increased its holdings in Trex Company, Inc. (NYSE:TREX – Get Rating) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 287,329 shares of the construction company’s stock after purchasing an additional 16,507 shares during the quarter. Raymond James & Associates owned approximately 0.26% of Trex worth $12,163,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TREX. Covestor Ltd grew its stake in shares of Trex by 178.8% in the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after purchasing an additional 245 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Trex in the first quarter worth $67,000. Canada Pension Plan Investment Board grew its stake in shares of Trex by 442.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,601 shares of the construction company’s stock worth $105,000 after purchasing an additional 1,306 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Trex by 24.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,444 shares of the construction company’s stock valued at $107,000 after purchasing an additional 482 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Trex by 9.9% during the third quarter. Van ECK Associates Corp now owns 4,220 shares of the construction company’s stock worth $185,000 after buying an additional 379 shares during the period. Institutional investors own 94.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TREX. BMO Capital Markets increased their price objective on shares of Trex from $58.00 to $62.00 in a research report on Tuesday, May 9th. Barclays increased their price objective on shares of Trex from $53.00 to $57.00 in a research report on Tuesday, May 9th. Credit Suisse Group reiterated an “underperform” rating and set a $43.00 price objective on shares of Trex in a research report on Tuesday, February 28th. B. Riley decreased their price objective on shares of Trex from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Finally, Robert W. Baird raised their price target on shares of Trex from $58.00 to $62.00 in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.00.

Trex Stock Performance

NYSE:TREX opened at $55.96 on Wednesday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 40.26, a price-to-earnings-growth ratio of 4.58 and a beta of 1.49. Trex Company, Inc. has a 52 week low of $38.68 and a 52 week high of $67.78. The firm has a 50-day moving average price of $51.43 and a two-hundred day moving average price of $49.24.

Trex (NYSE:TREX – Get Rating) last posted its quarterly earnings data on Monday, May 8th. The construction company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The firm had revenue of $239.00 million during the quarter, compared to analyst estimates of $237.65 million. Trex had a net margin of 15.37% and a return on equity of 30.02%. The company’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Trex Company, Inc. will post 1.61 earnings per share for the current year.

Trex Profile

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Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.