Quantbot Technologies LP Buys 2,430 Shares of Trex Company, Inc. (NYSE:TREX)

Quantbot Technologies LP lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 5.2% during the third quarter, HoldingsChannel reports. The firm owned 49,151 shares of the construction company’s stock after acquiring an additional 2,430 shares during the quarter. Quantbot Technologies LP’s holdings in Trex were worth $3,272,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TREX. Hantz Financial Services Inc. acquired a new stake in Trex in the second quarter valued at $31,000. UMB Bank n.a. lifted its stake in Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex in the second quarter valued at approximately $44,000. Quarry LP boosted its position in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the period. Finally, Mather Group LLC. boosted its holdings in shares of Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after buying an additional 370 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TREX. Loop Capital cut 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 report on Wednesday, August 7th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Truist Financial reduced their target price on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Down 0.9 %

Shares of TREX stock opened at $74.43 on Thursday. The business has a fifty day simple moving average of $68.30 and a 200 day simple moving average of $72.98. The company has a market cap of $7.97 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.51 and a beta of 1.49. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $101.91.

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