Trex Company, Inc. (NYSE:TREX) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC trimmed its stake in shares of Trex Company, Inc. (NYSE:TREX) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,349 shares of the construction company’s stock after selling 410 shares during the quarter. Malaga Cove Capital LLC’s holdings in Trex were worth $1,360,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TREX. V Square Quantitative Management LLC acquired a new position in shares of Trex during the fourth quarter worth about $25,000. Mather Group LLC. acquired a new position in Trex during the 1st quarter worth approximately $26,000. Hantz Financial Services Inc. acquired a new position in Trex during the 2nd quarter worth approximately $31,000. Sunbelt Securities Inc. increased its position in shares of Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares during the last quarter. Finally, Rise Advisors LLC raised its holdings in shares of Trex by 305.0% in the 1st quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 0.2 %

NYSE TREX opened at $61.86 on Tuesday. The firm has a market cap of $6.72 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.07 and a beta of 1.50. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91. The business’s 50-day moving average price is $70.94 and its 200 day moving average price is $83.10.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TREX shares. Citigroup dropped their target price on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Robert W. Baird cut their target price on Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. B. Riley decreased their target price on Trex from $107.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. UBS Group dropped their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $95.00 to $75.00 in a research 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 issued a buy rating to the company. Based on data from MarketBeat, Trex currently has an average rating of “Hold” and an average target price of $80.88.

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.