Trex (NYSE:TREX) CEO Adam Dante Zambanini Sells 500 Shares of Company Stock

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

Trex Stock Performance

TREX stock opened at $58.77 on Tuesday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 3.32 and a beta of 1.46. The business’s 50-day moving average is $46.57 and its two-hundred day moving average is $43.50. Trex Company, Inc. has a fifty-two week low of $29.77 and a fifty-two week high of $60.21.

Trex (NYSE:TREX) last released its quarterly 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. The business had revenue of $359.50 million during the quarter, compared to the consensus estimate of $314.86 million. Trex had a return on equity of 18.27% and a net margin of 13.89%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. Equities analysts predict that Trex Company, Inc. will post 1.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in shares of Trex during the 3rd quarter valued at about $3,136,000. Hantz Financial Services Inc. grew its stake in shares of Trex by 3.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 12,827 shares of the construction company’s stock valued at $559,000 after acquiring an additional 437 shares during the period. Royce & Associates LP increased its holdings 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 acquiring an additional 337,592 shares in the last quarter. IFG Advisory LLC increased its holdings in Trex by 8.5% in the 3rd quarter. IFG Advisory LLC now owns 18,762 shares of the construction company’s stock worth $817,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Trex by 6.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 225,021 shares of the construction company’s stock worth $9,803,000 after acquiring an additional 12,853 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

TREX has been the subject of a number of research reports. Truist Financial upped their target price on shares of Trex from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Citigroup increased their price target on shares of Trex from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. DA Davidson reiterated a “buy” rating and set a $55.00 price target 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 lifted their price target for the stock from $46.00 to $65.00 in a research note on Thursday, November 5th. Finally, BMO Capital Markets set a $57.00 price objective on shares of Trex in a research report on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.18.

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

About Trex