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

FORA Capital LLC bought a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,656 shares of the construction company's stock, valued at approximately $1,309,000.

Several other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new stake in shares of Trex during the second quarter worth about $31,000. UMB Bank n.a. grew its holdings in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock valued at $43,000 after buying an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Trex in the 2nd quarter valued at $44,000. Quarry LP raised its stake in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company's stock worth $45,000 after acquiring an additional 513 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company's stock worth $47,000 after acquiring an additional 370 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Truist Financial reduced their price target 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. Barclays dropped their price objective on shares of Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a report on Tuesday, October 29th. Benchmark reduced their target price on shares of Trex from $105.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, Stephens lowered shares of Trex from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. Two 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $79.94.

Trex Stock Performance

Shares of NYSE:TREX traded down $0.70 during midday trading on Thursday, reaching $74.43. 600,630 shares of the company's stock traded hands, compared to its average volume of 1,021,183. The company has a fifty day simple moving average of $68.43 and a two-hundred day simple moving average of $72.99. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91. The company has a market cap of $7.97 billion, a P/E ratio of 33.99, a PEG ratio of 3.51 and a beta of 1.49.

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