Dynamic Technology Lab Private Ltd Acquires 37,362 Shares of Trex Company, Inc. (NYSE:TREX)

Dynamic Technology Lab Private Ltd boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 237.6% during the third quarter, HoldingsChannel.com reports. The fund owned 53,084 shares of the construction company’s stock after purchasing an additional 37,362 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Trex were worth $3,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new stake in shares of Trex in the 2nd quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Trex during the second quarter worth about $44,000. Quarry LP increased its holdings in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares in the last quarter. Mather Group LLC. raised its stake in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after acquiring an additional 370 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of 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 in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and lowered their target price for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. DA Davidson increased their price objective on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Benchmark dropped their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

TREX opened at $72.25 on Monday. The company has a fifty day moving average price of $67.94 and a two-hundred day moving average price of $73.18. The firm has a market capitalization of $7.74 billion, a PE ratio of 32.99, a P/E/G ratio of 3.29 and a beta of 1.49. 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 quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. Equities analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current year.

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.