Quest Partners LLC Has $185,000 Holdings in Trex Company, Inc. (NYSE:TREX)

Quest Partners LLC lessened its stake in Trex Company, Inc. (NYSE:TREX) by 28.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,776 shares of the construction company’s stock after selling 1,083 shares during the quarter. Quest Partners LLC’s holdings in Trex were worth $185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Trex in the 2nd quarter valued at about $726,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Trex by 69.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock valued at $2,073,000 after purchasing an additional 11,455 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Trex in the 2nd quarter valued at about $19,475,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Trex by 33.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock valued at $19,716,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Curi RMB Capital LLC boosted its stake in shares of Trex by 27.2% in the 3rd quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock valued at $4,537,000 after purchasing an additional 14,558 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Stock Performance

Shares of TREX stock opened at $74.43 on Thursday. The company has a market capitalization of $7.97 billion, a P/E ratio of 34.31, a price-to-earnings-growth ratio of 3.51 and a beta of 1.49. The company’s 50 day moving average price is $68.30 and its two-hundred day moving average price is $72.98. Trex Company, Inc. has a 52 week low of $58.68 and a 52 week high of $101.91.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm 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 quarterly revenue was down 23.1% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. Analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TREX shares. Bank of America reduced their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays reduced their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Truist Financial reduced their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Loop Capital lowered shares of 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 research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Company 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.