Trex (NYSE:TREX) SVP Sells $116,308.83 in Stock

Trex Company, Inc. (NYSE:TREX) SVP Jacob Rudolph sold 1,969 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $59.07, for a total transaction of $116,308.83. Following the transaction, the senior vice president directly owned 37,462 shares in the company, valued at $2,212,880.34. This trade represents a 4.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Trex Stock Performance

NYSE:TREX opened at $54.34 on Thursday. Trex Company, Inc. has a one year low of $29.77 and a one year high of $60.21. The firm has a market cap of $5.43 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.94 and a beta of 1.46. The firm has a 50-day simple moving average of $46.97 and a 200-day simple moving average of $43.62.

Trex (NYSE:TREX) last announced its quarterly earnings results on Wednesday, November 4th. The construction company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. Trex had a net margin of 13.89% and a return on equity of 18.27%. The firm had revenue of $359.50 million during the quarter, compared to analysts’ expectations of $314.86 million. During the same quarter in the prior year, the company earned $0.51 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts predict that Trex Company, Inc. will post 1.84 EPS for the current fiscal year.

Analyst Ratings Changes

TREX has been the subject of a number of analyst reports. Citigroup upped their target price on Trex from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. BMO Capital Markets set a $57.00 target price on Trex in a research report on Wednesday, August 5th. Stephens lifted their price target on Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Truist Financial boosted their price target on Trex from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, Stifel Nicolaus set a $55.00 price objective on Trex and gave the stock a “buy” rating in a research note on Monday, October 19th. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.18.

Institutional Trading of Trex

A number of institutional investors have recently modified their holdings of TREX. Junto Capital Management LP acquired a new stake in Trex in the second quarter valued at approximately $20,074,000. Corient Private Wealth LP grew its holdings in Trex by 433.0% in the second quarter. Corient Private Wealth LP now owns 87,744 shares of the construction company’s stock worth $4,391,000 after purchasing an additional 71,282 shares during the last quarter. Legal & General Group Plc purchased a new position in Trex in the second quarter worth $6,757,000. Public Employees Retirement System of Ohio purchased a new position in Trex in the second quarter worth $3,176,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Trex during the second quarter worth $31,997,000. 95.96% of the stock is currently owned by institutional investors.

Trex Company Profile

Trex Company, Inc. manufactures wood-alternative decking, railing and other outdoor-living products. Its composite decking is made primarily from reclaimed wood and recycled plastic, offering an alternative to traditional wood materials. The company’s products include composite deck boards and railing systems, along with accessories such as outdoor lighting and drainage products. Trex sells through a network of distributors, dealers and retailers, serving customers primarily in North America as well as international markets.