Melkeya Mcduffie Sells 1,420 Shares of Trex Company, Inc. (NYSE:TREX) Stock

Trex Company, Inc. (NYSE:TREX) Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Trex Stock Performance

Shares of Trex stock opened at $61.71 on Friday. The firm has a market cap of $6.61 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $100.77. The firm’s 50-day simple moving average is $68.96 and its 200-day simple moving average is $68.65.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Trex

Several institutional investors and hedge funds have recently bought and sold shares of TREX. International Assets Investment Management LLC raised its stake in Trex by 7,363.6% during the third quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock worth $164,000 after acquiring an additional 2,430 shares during the period. State of Alaska Department of Revenue raised its stake in Trex by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock worth $841,000 after acquiring an additional 855 shares during the period. J.W. Cole Advisors Inc. raised its stake in Trex by 69.4% during the third quarter. J.W. Cole Advisors Inc. now owns 5,274 shares of the construction company’s stock worth $351,000 after acquiring an additional 2,161 shares during the period. US Bancorp DE grew its position in Trex by 23.8% in the 3rd quarter. US Bancorp DE now owns 13,675 shares of the construction company’s stock worth $910,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Stephens Inc. AR grew its position in Trex by 7.1% in the 3rd quarter. Stephens Inc. AR now owns 5,693 shares of the construction company’s stock worth $379,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

TREX has been the subject of a number of research reports. Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Citigroup cut their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. UBS Group cut their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Jefferies Financial Group cut their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $78.38.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.