Trex Company, Inc. (NYSE:TREX) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC reduced its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,950,343 shares of the construction company's stock after selling 23,325 shares during the quarter. Trex comprises approximately 1.8% of Conestoga Capital Advisors LLC's holdings, making the stock its 23rd largest position. Conestoga Capital Advisors LLC owned 1.79% of Trex worth $129,854,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TREX shares. Citigroup dropped their price objective on Trex from $94.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. dropped their price target on shares of Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. DA Davidson boosted their price objective on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday. Truist Financial lowered their price objective on shares of Trex from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Finally, BMO Capital Markets raised their price target on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $79.94.

Trex Stock Performance

Shares of TREX traded down $0.08 during midday trading on Friday, hitting $70.77. The company had a trading volume of 1,911,754 shares, compared to its average volume of 1,014,283. The company's 50-day simple moving average is $65.59 and its 200-day simple moving average is $75.51. The firm has a market capitalization of $7.58 billion, a P/E ratio of 32.97, a P/E/G ratio of 3.21 and a beta of 1.50. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping 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 return on equity of 28.89% and a net margin of 20.23%. The business's quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. Equities analysts predict 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.