Trex (NYSE:TREX) CEO Sells $27,920.00 in Stock

Trex Company, Inc. (NYSE:TREX) CEO Adam Zambanini sold 500 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $55.84, for a total transaction of $27,920.00. Following the sale, the chief executive officer owned 235,505 shares in the company, valued at approximately $13,150,599.20. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Trex Stock Down 0.2%

Shares of TREX stock opened at $54.34 on Thursday. Trex Company, Inc. has a 52 week low of $29.77 and a 52 week high of $60.21. The stock has a market capitalization of $5.43 billion, a PE ratio of 31.60, a P/E/G ratio of 2.94 and a beta of 1.46. The firm has a 50 day moving average of $46.97 and a two-hundred day moving average of $43.62.

Trex (NYSE:TREX) last posted its quarterly earnings results on Wednesday, November 4th. The construction company reported $0.55 EPS 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 business had revenue of $359.50 million during the quarter, compared to the consensus estimate of $314.86 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Analysts expect that Trex Company, Inc. will post 1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Trex

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Junto Capital Management LP acquired a new position in shares of Trex during the second quarter worth $20,074,000. Corient Private Wealth LP increased 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 valued at $4,391,000 after buying an additional 71,282 shares during the last quarter. Legal & General Group Plc purchased a new position in Trex in the second quarter valued at $6,757,000. Public Employees Retirement System of Ohio purchased a new position in Trex in the second quarter valued at $3,176,000. Finally, EFG International AG acquired a new stake in Trex in the second quarter valued at $7,197,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. DA Davidson cut Trex from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Tuesday. Zacks Research lowered Trex from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Deutsche Bank raised Trex from a “hold” rating to a “buy” rating and increased their price target for the company from $53.00 to $57.00 in a research report on Thursday, October 8th. Melius Research initiated coverage on Trex in a research note on Tuesday, October 6th. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Stifel Nicolaus set a $55.00 price objective on Trex and gave the stock a “buy” rating in a research report on Monday, October 19th. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.18.

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.