Key Points
- Trex SVP Jacob Rudolph sold 1,969 shares for about $116,309, reducing his ownership by 4.99%; he retained 37,462 shares after the transaction.
- Trex reported quarterly EPS of $0.55, beating the $0.48 consensus, while revenue rose 26% year over year to $359.5 million. The shares were up 7.4%.
- Analysts held a “Moderate Buy” consensus rating, with an average price target of $55.18; Truist raised its target to $75 and maintained a Buy rating.
Trex Company, Inc. (NYSE:TREX - Get Free Report) SVP Jacob Rudolph sold 1,969 shares of the business's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $59.07, for a total value of $116,308.83. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Trex Stock Up 7.4%
Shares of NYSE TREX opened at $58.77 on Tuesday. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $60.21. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 3.32 and a beta of 1.46. The business has a fifty day simple moving average of $46.57 and a 200-day simple moving average of $43.50.
Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The construction company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. The firm 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 was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. As a group, sell-side analysts expect that Trex Company, Inc. will post 1.82 EPS for the current fiscal year.
Wall Street Analyst Weigh In
TREX has been the topic of several analyst reports. Truist Financial lifted their target price on shares of Trex from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Weiss Ratings upgraded shares of Trex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 1st. DA Davidson restated a "buy" rating and issued a $55.00 price target on shares of Trex in a research report on Tuesday, July 14th. Stifel Nicolaus set a $55.00 price objective on shares of Trex and gave the stock a "buy" rating in a research note on Monday, October 19th. Finally, Melius Research started coverage on shares of Trex in a research report on Tuesday, October 6th. They set a "buy" rating and a $62.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.18.
View Our Latest Stock Report on Trex
Institutional Investors Weigh In On Trex
A number of institutional investors have recently bought and sold shares of TREX. BlackRock Inc. acquired a new position in shares of Trex in the 2nd quarter valued at about $525,081,000. Wellington Management Group LLP grew its position in Trex by 18.2% during the second quarter. Wellington Management Group LLP now owns 9,877,116 shares of the construction company's stock valued at $494,251,000 after purchasing an additional 1,518,338 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Trex during the 2nd quarter valued at $94,851,000. Royce & Associates LP increased its position in Trex by 45.6% in the 3rd quarter. Royce & Associates LP now owns 1,078,705 shares of the construction company's stock worth $46,988,000 after purchasing an additional 337,592 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Trex in the 3rd quarter valued at approximately $32,858,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Trex
Here are the key news stories impacting Trex this week:
- Positive Sentiment: Trex reported third-quarter net sales of about $360 million, up 26% year over year, and earnings per share of $0.55, above the $0.48 consensus estimate. An initial distribution load-in contributed $30 million to sales, so some of the growth may reflect a one-time benefit rather than ongoing demand. Trex: 3 Key Takeaways for Long-Term Investors
- Positive Sentiment: An analyst raised Trex’s price target to $59, signaling a more favorable view of the shares. Trex Price Target Raised to $59.00
- Negative Sentiment: CEO Adam Zambanini and SVPs Jacob Rudolph and Amy Fernandez reported share sales. The transactions reduced their individual holdings by roughly 0.2% to 5%; each executive retained substantial shares, making the sales a limited potential warning signal. CEO Form 4 filing SVP Form 4 filing
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