EFG Asset Management Americas Corp. Buys 17,799 Shares of Trex Company, Inc. (NYSE:TREX)

EFG Asset Management Americas Corp. lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 38.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,172 shares of the construction company’s stock after acquiring an additional 17,799 shares during the period. EFG Asset Management Americas Corp.’s holdings in Trex were worth $4,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vident Advisory LLC acquired a new stake in shares of Trex in the 1st quarter valued at about $4,013,000. Comerica Bank lifted its stake in Trex by 3.8% in the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after acquiring an additional 8,036 shares in the last quarter. Broad Bay Capital Management LP boosted 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 acquiring an additional 15,000 shares during the last quarter. Fisher Asset Management LLC boosted 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 acquiring an additional 4,534 shares during the last quarter. Finally, Duality Advisers LP grew its stake in shares of 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 acquiring an additional 16,738 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. UBS Group cut their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Benchmark decreased their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Stifel Nicolaus dropped their target price on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Stephens cut Trex from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.88.

Trex Trading Up 1.5 %

Shares of NYSE:TREX traded up $0.89 on Friday, hitting $61.74. The company had a trading volume of 965,847 shares, compared to its average volume of 927,151. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.05 and a beta of 1.50. The stock has a 50 day moving average price of $71.15 and a 200 day moving average price of $83.43. Trex Company, Inc. has a 1-year low of $53.59 and a 1-year high of $101.91.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. Trex’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. Sell-side analysts anticipate that Trex Company, Inc. will post 2.06 earnings per share for the current fiscal year.

About Trex

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.