Insider Selling: Trex Company, Inc. (NYSE:TREX) CFO Sells 2,000 Shares of Stock
Trex Company, Inc. (NYSE:TREX) CFO Bryan Horix Fairbanks sold 2,000 shares of Trex stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $75.43, for a total value of $150,860.00. Following the completion of the transaction, the chief financial officer now owns 18,167 shares in the company, valued at approximately $1,370,336.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Trex Company, Inc. (NYSE:TREX) traded up 2.44% during mid-day trading on Friday, hitting $79.67. The company had a trading volume of 313,651 shares. The stock has a market capitalization of $2.34 billion, a PE ratio of 30.55 and a beta of 2.36. Trex Company, Inc. has a 1-year low of $50.81 and a 1-year high of $82.04. The stock has a 50 day moving average price of $70.20 and a 200-day moving average price of $68.76.
Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.09. Trex had a net margin of 15.12% and a return on equity of 56.76%. The company had revenue of $158 million for the quarter, compared to analyst estimates of $160.40 million. During the same period in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts forecast that Trex Company, Inc. will post $2.99 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of TREX. Whittier Trust Co. bought a new position in shares of Trex during the first quarter worth approximately $103,000. Russell Investments Group Ltd. acquired a new position in Trex during the fourth quarter worth about $127,000. PNC Financial Services Group Inc. increased its position in Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after buying an additional 56 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Trex during the first quarter worth about $177,000. Finally, Fox Run Management L.L.C. acquired a new position in Trex during the first quarter worth about $201,000. Institutional investors and hedge funds own 92.06% of the company’s stock.
Several research analysts have recently commented on TREX shares. Griffin Securities downgraded Trex from a “buy” rating to a “neutral” rating in a report on Tuesday. FBR & Co lifted their price objective on Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a report on Tuesday. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Seaport Global Securities upgraded Trex from a “neutral” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Thursday, June 1st. Finally, Sidoti initiated coverage on Trex in a report on Thursday, June 15th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.20.
Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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