Trex (NYSE:TREX) SVP Jacob Rudolph Sells 1,969 Shares of Company Stock

Trex Company, Inc. (NYSE:TREX) SVP Jacob Rudolph sold 1,969 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $59.07, for a total transaction of $116,308.83. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Trex Price Performance

Shares of Trex stock opened at $58.77 on Tuesday. The firm has a fifty day moving average price of $46.57 and a 200 day moving average price of $43.50. Trex Company, Inc. has a 1 year low of $29.77 and a 1 year high of $60.21. The stock has a market cap of $6.11 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 3.32 and a beta of 1.46.

Trex (NYSE:TREX) last posted its earnings results on Wednesday, November 4th. The construction company reported $0.55 earnings per share (EPS) 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 company had revenue of $359.50 million during the quarter, compared to the consensus estimate of $314.86 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities analysts expect that Trex Company, Inc. will post 1.82 EPS for the current year.

Trex News Roundup

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

Institutional Investors Weigh In On Trex

Hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its position in Trex by 1.1% in the third quarter. Chicago Partners Investment Group LLC now owns 21,868 shares of the construction company’s stock worth $1,102,000 after acquiring an additional 247 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Trex by 5.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,369 shares of the construction company’s stock valued at $234,000 after purchasing an additional 280 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Trex by 10.3% in the 3rd quarter. Parallel Advisors LLC now owns 4,103 shares of the construction company’s stock worth $179,000 after purchasing an additional 382 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Trex by 3.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 12,827 shares of the construction company’s stock worth $559,000 after purchasing an additional 437 shares during the last quarter. Finally, Byrne Asset Management LLC raised its holdings in shares of Trex by 21.0% in the 3rd quarter. Byrne Asset Management LLC now owns 3,686 shares of the construction company’s stock worth $160,000 after purchasing an additional 639 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TREX. UBS Group restated a “buy” rating and issued a $61.00 target price (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. Melius Research began coverage on Trex in a research report on Tuesday, October 6th. They set a “buy” rating and a $62.00 price target for the company. Truist Financial boosted their price target on Trex from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, November 5th. 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. Finally, Citigroup upped their price objective on Trex from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.18.

Trex Company Profile