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

Quest Partners LLC reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) by 28.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

A number of other hedge funds have also recently bought and sold shares of TREX. Hantz Financial Services Inc. bought a new stake in Trex in the 2nd quarter valued at $31,000. UMB Bank n.a. boosted 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 valued at $43,000 after purchasing an additional 392 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Trex in the 2nd quarter valued at $44,000. Quarry LP boosted its holdings in Trex by 576.4% in 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 period. Finally, Mather Group LLC. boosted its holdings in Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Stock Down 0.9 %

Shares of Trex stock opened at $74.43 on Thursday. The stock 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 has a 50-day simple moving average of $68.30 and a 200 day simple moving average of $72.98. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91.

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

Analysts Set New Price Targets

A number of analysts have weighed in on TREX shares. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. UBS Group dropped their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Bank of America dropped their price objective on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus dropped their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. 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 company’s stock. According to MarketBeat, Trex presently has an average rating of “Hold” and an average price target of $79.94.

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.