Trex (NYSE:TREX) Stock: Insider Adam Dante Zambanini Sells 500 Shares

Key Points

• CEO Adam Zambanini sold 500 Trex shares for $27,920 at an average price of $55.84, a 0.21% reduction in his holdings; he retained 235,505 shares.
• Trex shares rose 7.4% to $58.77 in Monday trading. Its latest quarterly results beat expectations, with EPS of $0.55 versus $0.48 estimated and revenue of $359.5 million, up 26% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $55.18; 13 analysts rated the stock Buy, five Hold, and one Sell.

Trex Company, Inc. (NYSE:TREX - Get Free Report) CEO Adam Zambanini sold 500 shares of the company's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $55.84, for a total transaction of $27,920.00. Following the sale, the chief executive officer directly owned 235,505 shares in the company, valued at approximately $13,150,599.20. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Trex Trading Up 7.4%

NYSE:TREX traded up $4.03 during midday trading on Monday, reaching $58.77. The company had a trading volume of 2,507,702 shares, compared to its average volume of 1,960,865. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.98 and a beta of 1.46. The stock's fifty day simple moving average is $46.31 and its 200-day simple moving average is $43.43. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $60.21.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The construction company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. The company had revenue of $359.50 million for 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%. Trex's revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, sell-side analysts expect that Trex Company, Inc. will post 1.82 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus set a $55.00 price target on shares of Trex and gave the company a "buy" rating in a research report on Monday, October 19th. Stephens upped their target price on Trex from $45.00 to $50.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. DA Davidson restated a "buy" rating and issued a $55.00 price target on shares of Trex in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised Trex from a "hold" rating to a "buy" rating and lifted their price target for the stock from $53.00 to $57.00 in a research note on Thursday, October 8th. Finally, UBS Group reiterated a "buy" rating and issued a $61.00 price target (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Trex has an average rating of "Moderate Buy" and a consensus price target of $55.18.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Junto Capital Management LP purchased a new position in Trex in the second quarter valued at about $20,074,000. Corient Private Wealth LP raised its stake in shares of Trex by 433.0% during the 2nd quarter. Corient Private Wealth LP now owns 87,744 shares of the construction company's stock worth $4,391,000 after purchasing an additional 71,282 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Trex during the 2nd quarter worth about $6,757,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Trex during the 2nd quarter worth about $3,176,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Trex during the 2nd quarter valued at about $31,997,000. Institutional investors and hedge funds own 95.96% of the company's stock.

About Trex

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