Lombard Odier Asset Management Europe Ltd Sells 19,535,483 Shares of Trex Company, Inc. $TREX

Lombard Odier Asset Management Europe Ltd lessened its position in shares of Trex Company, Inc. (NYSE:TREX) by 99.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,969 shares of the construction company’s stock after selling 19,535,483 shares during the period. Lombard Odier Asset Management Europe Ltd owned 0.05% of Trex worth $2,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TREX. V Square Quantitative Management LLC bought a new stake in Trex in the 4th quarter valued at about $27,000. Clearstead Trust LLC bought a new position in Trex during the fourth quarter worth about $33,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Trex in the fourth quarter worth about $47,000. Empowered Funds LLC purchased a new position in shares of Trex in the fourth quarter worth about $50,000. Finally, Rothschild Investment LLC bought a new stake in shares of Trex in the third quarter valued at approximately $60,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $53.00 in a report on Wednesday, February 25th. Wall Street Zen downgraded Trex from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. UBS Group reaffirmed a “buy” rating and issued a $59.00 price target (up from $58.00) on shares of Trex in a report on Friday, May 8th. Finally, Barclays reiterated an “underweight” rating and issued a $36.00 price target (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average price target of $46.42.

Trex Price Performance

NYSE TREX opened at $46.93 on Wednesday. The company’s 50 day simple moving average is $40.63 and its two-hundred day simple moving average is $39.38. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $68.78. The stock has a market capitalization of $4.88 billion, a PE ratio of 26.22, a P/E/G ratio of 9.40 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The firm had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Trex Company, Inc. will post 1.68 EPS for the current 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.