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

Lombard Odier Asset Management Europe Ltd decreased its stake in Trex Company, Inc. (NYSE:TREX) by 99.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 58,969 shares of the construction company’s stock after selling 19,535,483 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Trex were worth $2,069,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TREX. V Square Quantitative Management LLC purchased a new position in Trex in the fourth quarter worth $27,000. Clearstead Trust LLC purchased a new stake in Trex during the fourth quarter valued at about $33,000. Eurizon Capital SGR S.p.A. bought a new stake in Trex during the fourth quarter worth about $47,000. Empowered Funds LLC purchased a new position in shares of Trex in the 4th quarter worth about $50,000. Finally, Rothschild Investment LLC purchased a new position in shares of Trex in the 3rd quarter worth about $60,000. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TREX shares. Wall Street Zen cut Trex from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. UBS Group reaffirmed a “buy” rating and issued a $59.00 target price (up from $58.00) on shares of Trex in a research note on Friday, May 8th. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $53.00 in a research report on Wednesday, February 25th. Bank of America decreased their price target on Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Finally, Barclays reiterated an “underweight” rating and issued a $36.00 price objective (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.42.

Trex Trading Up 1.2%

Shares of NYSE:TREX opened at $46.93 on Wednesday. The company has a 50-day moving average price of $40.63 and a 200-day moving average price of $39.38. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 9.40 and a beta of 1.51. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $68.78.

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

Trex Profile

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.