Point72 Hong Kong Ltd Sells 7,998 Shares of Trex Company, Inc. (NYSE:TREX)

Point72 Hong Kong Ltd trimmed its position in Trex Company, Inc. (NYSE:TREX) by 18.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 36,246 shares of the construction company’s stock after selling 7,998 shares during the period. Point72 Hong Kong Ltd’s holdings in Trex were worth $2,687,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vident Advisory LLC bought a new position in shares of Trex in the 1st quarter valued at $4,013,000. Comerica Bank raised its position in Trex by 3.8% during the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock worth $21,689,000 after purchasing an additional 8,036 shares during the last quarter. Broad Bay Capital Management LP raised its position in Trex by 3.8% during the 4th quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock worth $34,358,000 after purchasing an additional 15,000 shares during the last quarter. Fisher Asset Management LLC raised its position in Trex by 4.8% during the 4th quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after purchasing an additional 4,534 shares during the last quarter. Finally, Duality Advisers LP raised its position in Trex by 54.1% during the 1st quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock worth $4,756,000 after purchasing an additional 16,738 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TREX. Citigroup lowered their target price on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Stephens lowered Trex from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $115.00 to $72.00 in a research report on Wednesday, August 7th. DA Davidson lowered their target price on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Stifel Nicolaus decreased their price target on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and decreased their price target for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $80.88.

Trex Price Performance

Shares of TREX opened at $66.40 on Thursday. The stock has a 50-day moving average of $68.76 and a 200-day moving average of $80.92. The company has a market cap of $7.22 billion, a PE ratio of 28.50, a P/E/G ratio of 2.37 and a beta of 1.50. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. Analysts expect that Trex Company, Inc. will post 2.03 EPS for the current fiscal year.

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.