Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Trex Company Inc (NYSE:TREX) by 816.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,060 shares of the construction company’s stock after acquiring an additional 8,071 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trex were worth $816,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of TREX. Bessemer Group Inc. lifted its holdings in shares of Trex by 352.7% during the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock worth $129,000 after purchasing an additional 1,118 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Trex during the third quarter worth about $202,000. Riverhead Capital Management LLC lifted its holdings in shares of Trex by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock worth $156,000 after purchasing an additional 1,098 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Trex during the third quarter worth about $212,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Trex during the third quarter worth about $219,000. 89.09% of the stock is owned by institutional investors and hedge funds.
TREX has been the subject of a number of research reports. BidaskClub downgraded Trex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised Trex from a “sell” rating to a “buy” rating and set a $123.00 price target for the company in a report on Thursday, November 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $89.00 price target on shares of Trex in a report on Wednesday, November 1st. B. Riley reissued a “hold” rating and issued a $96.00 price target on shares of Trex in a report on Wednesday, November 8th. Finally, SunTrust Banks reissued a “hold” rating and issued a $95.00 price target on shares of Trex in a report on Wednesday, November 1st. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $90.00.
Shares of Trex Company Inc (NYSE:TREX) traded down $2.19 during trading hours on Tuesday, reaching $110.99. The company’s stock had a trading volume of 271,900 shares, compared to its average volume of 235,874. Trex Company Inc has a one year low of $61.57 and a one year high of $118.65. The firm has a market capitalization of $3,270.00, a P/E ratio of 37.35 and a beta of 2.43.
Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The company had revenue of $140.19 million during the quarter, compared to the consensus estimate of $125.30 million. During the same period in the previous year, the company posted $0.26 earnings per share. Trex’s revenue for the quarter was up 32.0% on a year-over-year basis. equities analysts expect that Trex Company Inc will post 3.11 EPS for the current fiscal year.
Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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