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

Trex Company, Inc. (NYSE:TREX) SVP Amy Fernandez sold 1,231 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $57.87, for a total value of $71,237.97. Following the completion of the transaction, the senior vice president owned 66,563 shares in the company, valued at approximately $3,852,000.81. The trade was a 1.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Trex Stock Performance

Trex stock traded up $4.03 during mid-day trading on Monday, reaching $58.77. The stock had a trading volume of 2,507,702 shares, compared to its average volume of 1,960,865. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $60.21. The stock’s 50-day simple moving average is $46.31 and its 200-day simple moving average is $43.43. The firm 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 issued its earnings results on Wednesday, November 4th. The construction company reported $0.55 earnings per share for the quarter, topping 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 company had revenue of $359.50 million for the quarter, compared to analyst estimates of $314.86 million. During the same period in the prior year, the firm earned $0.51 earnings per share. Trex’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, research analysts forecast that Trex Company, Inc. will post 1.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group restated a “buy” rating and set a $61.00 price objective (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. DA Davidson reiterated a “buy” rating and issued a $55.00 target price on shares of Trex in a research note on Tuesday, July 14th. Bank of America upgraded shares of Trex from an “underperform” rating to a “buy” rating and increased their target price for the company from $46.00 to $65.00 in a report on Thursday. Stephens raised their price target on shares of Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Finally, Melius Research began coverage on shares of Trex in a report on Tuesday, October 6th. They set a “buy” rating and a $62.00 price target on the stock. Thirteen 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its position in shares of Trex by 3.5% during the third quarter. Hantz Financial Services Inc. now owns 12,827 shares of the construction company’s stock valued at $559,000 after buying an additional 437 shares during the period. Royce & Associates LP boosted its position in shares of Trex by 45.6% in the third quarter. Royce & Associates LP now owns 1,078,705 shares of the construction company’s stock valued at $46,988,000 after acquiring an additional 337,592 shares during the period. IFG Advisory LLC boosted its position in shares of Trex by 8.5% in the third quarter. IFG Advisory LLC now owns 18,762 shares of the construction company’s stock valued at $817,000 after acquiring an additional 1,463 shares during the period. Russell Investments Group Ltd. grew its stake in Trex by 6.1% during the third quarter. Russell Investments Group Ltd. now owns 225,021 shares of the construction company’s stock valued at $9,803,000 after acquiring an additional 12,853 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Trex during the third quarter valued at approximately $6,810,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

About Trex