MQS Management LLC Has $445,000 Position in Trex Company, Inc. (NYSE:TREX)

MQS Management LLC lifted its stake in shares of Trex Company, Inc. (NYSE:TREX) by 36.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,003 shares of the construction company’s stock after buying an additional 1,602 shares during the quarter. MQS Management LLC’s holdings in Trex were worth $445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TREX. V Square Quantitative Management LLC bought a new position in Trex during the fourth quarter worth about $25,000. Mather Group LLC. acquired a new position in shares of Trex during the 1st quarter worth approximately $26,000. Hantz Financial Services Inc. bought a new position in shares of Trex during the second quarter worth approximately $31,000. Sunbelt Securities Inc. raised its position in shares of Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares in the last quarter. Finally, Rise Advisors LLC boosted its stake in shares of Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after buying an additional 305 shares during the period. Institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. BMO Capital Markets decreased their price target on Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Truist Financial cut their price objective 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. UBS Group decreased their target price on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Bank of America dropped their target price on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Trex currently has an average rating of “Hold” and an average price target of $80.88.

Trex Price Performance

Shares of Trex stock opened at $71.24 on Friday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 2.25 and a beta of 1.50. The stock’s 50-day moving average is $69.90 and its 200 day moving average is $81.74. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, sell-side analysts expect that Trex Company, Inc. will post 2.03 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.