Trex Company Stock Price Down 4.6% on Insider Selling (TREX)
Trex Company (NASDAQ:TREX) dropped 4.6% during mid-day trading on Thursday following insider selling activity, StockRatingsNetwork.com reports. The company traded as low as $25.14 and last traded at $26.52, with a volume of 1,173,578 shares trading hands. The stock had previously closed at $27.79.
Specifically, Director Frank H. Merlotti, Jr. unloaded 2,888 shares of the company’s stock on the open market in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $28.96, for a total transaction of $83,636.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
TREX has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Trex Company from an “underperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $30.30 price target on the stock. Finally, analysts at SunTrust upgraded shares of Trex Company from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 6th. They now have a $45.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Trex Company currently has an average rating of “Buy” and a consensus price target of $37.36.
The stock has a 50-day moving average of $30.53 and a 200-day moving average of $34.80. The company has a market cap of $894.0 million and a price-to-earnings ratio of 37.40.
Trex Company (NASDAQ:TREX) last released its earnings data on Monday, May 5th. The company reported $0.73 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.93 by $0.20. The company had revenue of $101.00 million for the quarter, compared to the consensus estimate of $115.25 million. During the same quarter last year, the company posted $1.25 earnings per share. Trex Company’s revenue was down 6.8% compared to the same quarter last year. Analysts expect that Trex Company will post $1.21 EPS for the current fiscal year.
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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