Trex (NYSE:TREX) SVP Amy Fernandez Sells 1,231 Shares of Company Stock

Trex Company, Inc. (NYSE:TREX) SVP Amy Fernandez sold 1,231 shares of Trex stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $57.87, for a total transaction of $71,237.97. Following the completion of the sale, the senior vice president owned 66,563 shares of the company’s stock, valued at $3,852,000.81. This trade represents a 1.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Trex Price Performance

Shares of NYSE:TREX opened at $58.77 on Tuesday. The company has a market capitalization of $6.11 billion, a P/E ratio of 31.75, a P/E/G ratio of 3.32 and a beta of 1.46. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $60.21. The business’s 50 day simple moving average is $46.57 and its 200 day simple moving average is $43.50.

Trex (NYSE:TREX) last posted its quarterly earnings results on Wednesday, November 4th. The construction company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. Trex had a return on equity of 18.27% and a net margin of 13.89%. 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 earned $0.51 earnings per share. Trex’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Trex Company, Inc. will post 1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial boosted their price objective on 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 research report on Tuesday, September 1st. Stifel Nicolaus set a $55.00 target price on Trex and gave the stock a “buy” rating in a report on Monday, October 19th. UBS Group reiterated a “buy” rating and set a $61.00 price objective (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. Finally, Melius Research started coverage on Trex in a report on Tuesday, October 6th. They issued a “buy” rating and a $62.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Trex has a consensus rating of “Moderate Buy” and a consensus price target of $55.18.

Hedge Funds Weigh In On Trex

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Trex in the second quarter worth $525,081,000. Bank of America Corp DE bought a new position in Trex in the 2nd quarter valued at $94,851,000. Wellington Management Group LLP increased its position in shares of Trex by 18.2% during the 2nd 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 during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Trex during the 3rd quarter valued at $32,858,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Trex during the 2nd quarter valued at $36,197,000. 95.96% of the stock is owned by institutional investors.

Key Headlines Impacting 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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