Trex Company, Inc. $TREX Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. increased its position in shares of Trex Company, Inc. (NYSE:TREX) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,543,925 shares of the construction company’s stock after purchasing an additional 142,215 shares during the period. Alliancebernstein L.P. owned 7.03% of Trex worth $389,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. acquired a new position in Trex during the third quarter worth about $31,000. Rothschild Investment LLC acquired a new stake in Trex in the 3rd quarter valued at about $60,000. Clearstead Advisors LLC lifted its holdings in Trex by 91.8% in the 3rd quarter. Clearstead Advisors LLC now owns 1,500 shares of the construction company’s stock valued at $78,000 after acquiring an additional 718 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Trex by 662.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,517 shares of the construction company’s stock valued at $78,000 after purchasing an additional 1,318 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Trex by 37.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,999 shares of the construction company’s stock valued at $103,000 after purchasing an additional 541 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Trex from a “hold” rating to a “buy” rating and boosted their target price for the stock from $39.00 to $42.00 in a report on Monday, December 15th. Stifel Nicolaus set a $37.50 target price on shares of Trex and gave the stock a “hold” rating in a report on Monday, February 23rd. Barclays lifted their price target on shares of Trex from $32.00 to $39.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 25th. Benchmark cut Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Citigroup raised their price objective on Trex from $39.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.78.

Trex Price Performance

Trex stock opened at $37.47 on Monday. The firm’s 50 day simple moving average is $41.29 and its 200-day simple moving average is $43.46. The company has a market cap of $3.96 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 8.62 and a beta of 1.58. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $68.78.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Trex had a net margin of 16.22% and a return on equity of 20.29%. The business had revenue of $161.13 million during the quarter, compared to the consensus estimate of $144.39 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. On average, analysts expect that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.