FORA Capital LLC Purchases New Shares in Trex Company, Inc. (NYSE:TREX)

FORA Capital LLC bought a new stake in Trex Company, Inc. (NYSE:TREX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,656 shares of the construction company’s stock, valued at approximately $1,309,000.

Several other institutional investors have also modified their holdings of the stock. CreativeOne Wealth LLC grew its position in shares of Trex by 58.6% in the third quarter. CreativeOne Wealth LLC now owns 8,903 shares of the construction company’s stock valued at $593,000 after purchasing an additional 3,291 shares during the period. Blueshift Asset Management LLC grew its position in shares of Trex by 27.2% in the third quarter. Blueshift Asset Management LLC now owns 12,710 shares of the construction company’s stock valued at $846,000 after purchasing an additional 2,717 shares during the period. BNP Paribas Financial Markets grew its position in shares of Trex by 85.8% in the third quarter. BNP Paribas Financial Markets now owns 149,587 shares of the construction company’s stock valued at $9,960,000 after purchasing an additional 69,073 shares during the period. Millrace Asset Group Inc. acquired a new stake in shares of Trex in the third quarter valued at about $2,010,000. Finally, Quantbot Technologies LP grew its position in shares of Trex by 5.2% in the third quarter. Quantbot Technologies LP now owns 49,151 shares of the construction company’s stock valued at $3,272,000 after purchasing an additional 2,430 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TREX. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. DA Davidson boosted their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Barclays lowered their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. B. Riley lowered their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Benchmark lowered their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trex has an average rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Shares of TREX stock opened at $74.43 on Thursday. The firm’s 50-day moving average is $68.30 and its two-hundred day moving average is $72.98. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91. The company has a market capitalization of $7.97 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business’s revenue was down 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. Sell-side analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current 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.