Trex Company, Inc. (NYSE:TREX – Get Free Report) SVP Jacob Rudolph sold 1,969 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $59.07, for a total transaction of $116,308.83. Following the completion of the transaction, the senior vice president owned 37,462 shares of the company’s stock, valued at $2,212,880.34. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Trex Trading Up 7.4%
Shares of TREX traded up $4.03 during midday trading on Monday, reaching $58.77. The stock had a trading volume of 2,507,705 shares, compared to its average volume of 2,091,428. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 3.32 and a beta of 1.46. The company’s 50-day moving average is $46.57 and its 200 day moving average is $43.50. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $60.21.
Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The construction company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $359.50 million for the quarter, compared to analysts’ expectations of $314.86 million. Trex had a return on equity of 18.27% and a net margin of 13.89%. Trex’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. Research analysts forecast that Trex Company, Inc. will post 1.82 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Trex from $42.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday. Truist Financial increased their target price on shares of Trex from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Trex from a “hold” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $57.00 in a research note on Thursday, October 8th. Weiss Ratings upgraded shares of Trex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. Finally, Stifel Nicolaus set a $55.00 price objective on Trex and gave the company a “buy” rating in a research note on Monday, October 19th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.18.
Check Out Our Latest Analysis on Trex
Institutional Trading of Trex
Several hedge funds and other institutional investors have recently bought and sold shares of TREX. BlackRock Inc. bought a new position in shares of Trex in the second quarter worth approximately $525,081,000. Bank of America Corp DE bought a new stake in Trex in the 2nd quarter worth $94,851,000. Wellington Management Group LLP grew its holdings in Trex by 18.2% in the 2nd quarter. Wellington Management Group LLP now owns 9,877,116 shares of the construction company’s stock worth $494,251,000 after acquiring an additional 1,518,338 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Trex in the third quarter valued at about $32,858,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Trex in the second quarter valued at about $36,197,000. Institutional investors own 95.96% of the company’s stock.
Trex Company Profile
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