Trex Company, Inc. (TREX) Issues Earnings Results

Trex Company, Inc. (NYSE:TREX) released its earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09, Briefing.com reports. Trex had a net margin of 15.12% and a return on equity of 56.76%. The firm had revenue of $158 million during the quarter, compared to analyst estimates of $160.40 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year.

Trex (NYSE:TREX) opened at 73.51 on Friday. The stock’s 50 day moving average is $73.42 and its 200 day moving average is $69.50. The firm has a market cap of $2.16 billion, a P/E ratio of 28.19 and a beta of 2.36. Trex has a one year low of $50.81 and a one year high of $82.04.

In other news, VP Christopher Paul Gerhard sold 3,920 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $79.69, for a total value of $312,384.80. Following the completion of the sale, the vice president now directly owns 26,560 shares in the company, valued at $2,116,566.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP William R. Gupp sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $77.18, for a total value of $270,130.00. Following the completion of the sale, the senior vice president now owns 41,711 shares of the company’s stock, valued at $3,219,254.98. The disclosure for this sale can be found here. Insiders have sold 14,680 shares of company stock valued at $1,145,196 over the last quarter. Corporate insiders own 0.95% of the company’s stock.

A number of institutional investors have recently bought and sold shares of TREX. Alps Advisors Inc. boosted its position in Trex by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock valued at $458,000 after buying an additional 18 shares in the last quarter. Pinebridge Investments L.P. boosted its position in Trex by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 3,873 shares of the construction company’s stock valued at $262,000 after buying an additional 41 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after buying an additional 56 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Trex by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 3,260 shares of the construction company’s stock valued at $226,000 after buying an additional 80 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its position in Trex by 1.6% in the second quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock valued at $419,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

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Several analysts have weighed in on TREX shares. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Wednesday, May 10th. Seaport Global Securities upgraded shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, June 1st. BidaskClub upgraded shares of Trex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Sidoti began coverage on shares of Trex in a research note on Thursday, June 15th. They set a “buy” rating for the company. Finally, Stifel Nicolaus reissued a “hold” rating and set a $70.00 price target on shares of Trex in a report on Friday, July 14th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $75.20.

Trex Company Profile

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Earnings History for Trex (NYSE:TREX)

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