Insider Selling: Trex Co. CEO Sells 43,989 Shares of Stock (TREX)
Trex Co. (NASDAQ:TREX) CEO Ronald Kaplan unloaded 43,989 shares of Trex Co. stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $64.70, for a total transaction of $2,846,088.30. Following the completion of the transaction, the chief executive officer now directly owns 78,784 shares in the company, valued at approximately $5,097,325. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Trex Co. (NASDAQ:TREX) traded up 2.22% on Tuesday, hitting $69.84. The stock had a trading volume of 375,003 shares. Trex Co. has a one year low of $29.76 and a one year high of $58.03. The stock’s 50-day moving average is $45.35 and its 200-day moving average is $49.23. The company has a market cap of $1.165 billion and a P/E ratio of 73.94.
Trex Co. (NASDAQ:TREX) last released its earnings data on Friday, October 25th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.10. The company had revenue of $72.20 million for the quarter, compared to the consensus estimate of $72.10 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Trex Co. will post $2.59 EPS for the current fiscal year.
A number of analysts have recently weighed in on TREX shares. Analysts at FBR Capital Markets raised their price target on shares of Trex Co. from $57.00 to $70.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Davenport downgraded shares of Trex Co. from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $63.00 price target on the stock, up previously from $51.00. Finally, analysts at FBR & Co. initiated coverage on shares of Trex Co. in a research note to investors on Friday, September 27th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Trex Co. currently has a consensus rating of “Buy” and an average price target of $55.25.
Trex Company, Inc manufactures and distributes wood/plastic composite products, as well as related accessories, primarily for residential and commercial decking and railing applications.
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