FORA Capital LLC Invests $1.31 Million in Trex Company, Inc. (NYSE:TREX)

FORA Capital LLC purchased a new position in Trex Company, Inc. (NYSE:TREX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,656 shares of the construction company’s stock, valued at approximately $1,309,000.

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

Analysts Set New Price Targets

Several research firms recently commented on TREX. JPMorgan Chase & Co. reduced their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group cut their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. DA Davidson upped their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets upped their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $79.94.

Trex Price Performance

Shares of Trex stock opened at $74.43 on Thursday. The stock has a market cap 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. The firm has a fifty day moving average price of $68.30 and a 200 day moving average price of $72.98. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

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

Trex Profile

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.