Cinctive Capital Management LP Acquires Shares of 89,656 Trex Company, Inc. $TREX

Cinctive Capital Management LP bought a new position in shares of Trex Company, Inc. (NYSE:TREX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 89,656 shares of the construction company’s stock, valued at approximately $4,633,000. Cinctive Capital Management LP owned approximately 0.08% of Trex as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC increased its position in Trex by 3.2% during the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after acquiring an additional 177 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Trex by 91.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock valued at $47,803,000 after purchasing an additional 392,715 shares during the period. ProShare Advisors LLC grew its position in shares of Trex by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 4,754 shares of the construction company’s stock worth $259,000 after purchasing an additional 189 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Trex by 12.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,305 shares of the construction company’s stock worth $560,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Trex by 4.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 40,773 shares of the construction company’s stock worth $2,217,000 after purchasing an additional 1,894 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

TREX has been the subject of several recent research reports. Robert W. Baird set a $48.00 price target on Trex in a research note on Monday, January 12th. Citigroup lifted their price objective on Trex from $39.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. UBS Group upped their target price on Trex from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Barclays increased their target price on Trex from $32.00 to $39.00 and gave the stock an “underweight” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Trex from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.78.

Trex Stock Performance

NYSE TREX opened at $37.47 on Monday. The firm’s fifty day moving average price is $41.29 and its two-hundred day moving average price is $43.46. The stock has a market cap of $3.96 billion, a PE ratio of 21.17, a PEG 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 announced its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $161.13 million during the quarter, compared to analysts’ expectations of $144.39 million. Trex had a return on equity of 20.29% and a net margin of 16.22%.Trex’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. As a group, sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

About Trex

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.