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

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

Trex Stock Up 7.4%

TREX stock traded up $4.03 during trading hours on Monday, hitting $58.77. The company’s stock had a trading volume of 2,507,702 shares, compared to its average volume of 1,960,865. The stock has a 50 day moving average price of $46.31 and a two-hundred day moving average price of $43.43. Trex Company, Inc. has a 12 month low of $29.77 and a 12 month high of $60.21. The company has a market capitalization of $6.11 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46.

Trex (NYSE:TREX) last released its quarterly earnings results on Wednesday, November 4th. The construction company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $314.86 million. During the same quarter last year, the firm earned $0.51 EPS. Trex’s revenue for the quarter was up 26.0% on a year-over-year basis. Sell-side analysts expect that Trex Company, Inc. will post 1.82 earnings per share for the current year.

Institutional Investors Weigh In On Trex

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Trex during the 2nd quarter valued at approximately $525,081,000. Wellington Management Group LLP grew its holdings in Trex by 18.2% in 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 buying an additional 1,518,338 shares during the last quarter. Bank of America Corp DE bought a new position in Trex in the 2nd quarter worth approximately $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 buying an additional 337,592 shares during the period. Finally, Freestone Grove Partners LP bought a new position in Trex in the 2nd quarter worth approximately $36,197,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets set a $57.00 target price on Trex in a report on Wednesday, August 5th. Barclays increased their price objective on Trex from $42.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday. UBS Group reissued a “buy” rating and issued a $61.00 price objective (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. Weiss Ratings upgraded Trex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. Finally, Bank of America raised Trex from an “underperform” rating to a “buy” rating and upped their target price for the stock from $46.00 to $65.00 in a research report on Thursday. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.18.

About Trex