Trex (NYSE:TREX) SVP Sells $116,308.83 in Stock

Key Points

• Trex SVP Jacob Rudolph sold 1,969 shares for about $116,309, reducing his ownership by 4.99%; he retained 37,462 shares.
• Trex beat quarterly estimates, reporting EPS of $0.55 versus $0.48 expected and revenue of $359.5 million versus $314.9 million expected; revenue rose 26% year over year.
• The stock rose 7.4% in Monday midday trading. Analysts’ consensus rating was Moderate Buy, with an average price target of $55.18.

Trex Company, Inc. (NYSE:TREX - Get Free Report) SVP Jacob Rudolph sold 1,969 shares of the firm's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $59.07, for a total value of $116,308.83. Following the sale, the senior vice president directly owned 37,462 shares of the company's stock, valued at approximately $2,212,880.34. This represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Trex Trading Up 7.4%

Shares of NYSE:TREX traded up $4.03 during midday trading on Monday, reaching $58.77. The company had a trading volume of 2,507,705 shares, compared to its average volume of 2,091,428. The company's 50 day moving average price is $46.57 and its 200 day moving average price is $43.50. The stock has a market cap of $6.11 billion, a P/E ratio of 31.75, a P/E/G ratio of 3.32 and a beta of 1.46. Trex Company, Inc. has a 52-week low of $29.77 and a 52-week high of $60.21.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The construction company reported $0.55 earnings per share (EPS) for the quarter, topping 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 net margin of 13.89% and a return on equity of 18.27%. The firm's quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. Research analysts forecast that Trex Company, Inc. will post 1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Trex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ascentis Independent Advisors purchased a new position in Trex during the 1st quarter valued at about $44,000. Elevation Wealth Partners LLC grew its position in Trex by 250.7% during the third quarter. Elevation Wealth Partners LLC now owns 1,224 shares of the construction company's stock worth $53,000 after buying an additional 875 shares in the last quarter. GAMMA Investing LLC grew its position in Trex by 104.7% during the third quarter. GAMMA Investing LLC now owns 1,269 shares of the construction company's stock worth $55,000 after buying an additional 649 shares in the last quarter. Versant Capital Management Inc bought a new position in Trex in the 2nd quarter worth about $58,000. Finally, Parallel Advisors LLC increased its stake in Trex by 77.6% in the 1st quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company's stock worth $77,000 after acquiring an additional 926 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Analyst Ratings Changes

TREX has been the subject of a number of recent research reports. Barclays raised their target price on Trex from $42.00 to $46.00 and gave the stock an "underweight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised Trex from a "hold" rating to a "buy" rating and upped their price target for the company from $53.00 to $57.00 in a research report on Thursday, October 8th. Citigroup increased their price target on Trex from $52.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday. Melius Research began coverage on Trex in a report on Tuesday, October 6th. They issued a "buy" rating and a $62.00 price objective for the company. Finally, BMO Capital Markets set a $57.00 price objective on Trex in a research note on Wednesday, August 5th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.18.

About Trex

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