Insider Selling: William Gupp Sells 13,916 Shares of Trex Co. Stock (TREX)
Trex Co. (NASDAQ:TREX) CAO William Gupp unloaded 13,916 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $65.38, for a total value of $909,828.08. Following the completion of the transaction, the chief accounting officer now directly owns 31,953 shares of the company’s stock, valued at approximately $2,089,087. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Trex Co. (NASDAQ:TREX) traded up 2.22% on Tuesday, hitting $69.84. 375,003 shares of the company’s stock traded hands. Trex Co. has a 52 week low of $29.76 and a 52 week 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 posted its quarterly earnings results 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 last year, the company posted $0.36 earnings per share. Trex Co.’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Trex Co. will post $2.59 earnings per share for the current fiscal year.
A number of research firms have recently commented on TREX. 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price 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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