Key Points
- Trex SVP Jacob Rudolph sold 1,400 shares on June 25 at an average price of $50.00, totaling $70,000. The sale reduced his stake by 3.68% and was made under a pre-arranged Rule 10b5-1 plan.
- TREX shares were down 0.2% and opened at $49.87, near the insider sale price. The stock remains well above its 50-day and 200-day moving averages, with a market value of about $5.18 billion.
- Trex recently reported better-than-expected quarterly earnings of $0.59 per share, beating estimates by $0.08, while revenue rose 1.0% year over year to $343.4 million. Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $46.68.
Trex Company, Inc. (NYSE:TREX - Get Free Report) SVP Jacob Rudolph sold 1,400 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the completion of the transaction, the senior vice president owned 36,631 shares in the company, valued at $1,831,550. The trade was a 3.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Trex Trading Down 0.2%
Shares of TREX opened at $49.87 on Friday. The stock has a 50 day moving average of $42.04 and a 200 day moving average of $40.06. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 10.15 and a beta of 1.51. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $68.78.
Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The firm had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. During the same quarter in the prior year, the company earned $0.60 EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Trex Company, Inc. will post 1.68 earnings per share for the current year.
Hedge Funds Weigh In On Trex
A number of large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. raised its stake in shares of Trex by 1.9% during the 3rd quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company's stock valued at $389,795,000 after purchasing an additional 142,215 shares during the period. Wellington Management Group LLP boosted its stake in Trex by 266.0% in the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company's stock worth $253,467,000 after purchasing an additional 5,251,297 shares during the period. AQR Capital Management LLC grew its holdings in Trex by 143.8% during the 4th quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company's stock valued at $136,655,000 after buying an additional 2,297,533 shares in the last quarter. Morgan Stanley increased its position in shares of Trex by 44.6% during the fourth quarter. Morgan Stanley now owns 2,313,285 shares of the construction company's stock valued at $81,150,000 after buying an additional 713,054 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Trex by 2.5% in the third quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company's stock worth $113,233,000 after buying an additional 53,554 shares in the last quarter. 95.96% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have commented on TREX. Bank of America lowered their price objective on shares of Trex from $43.00 to $42.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Wall Street Zen lowered shares of Trex from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Truist Financial set a $55.00 price objective on Trex and gave the company a "buy" rating in a research note on Monday. Zelman & Associates raised Trex from a "neutral" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Monday, May 18th. Finally, Citigroup reissued a "neutral" rating and issued a $43.00 target price (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $46.68.
View Our Latest Stock Report on TREX
Trex Company Profile
(
Get Free Report)
Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company's core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.
Trex's product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.
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