Trex Company, Inc. (NYSE:TREX) announced its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $160.40 million. During the same period last year, the business earned $0.79 EPS. Trex’s revenue for the quarter was up 7.9% compared to the same quarter last year.
Shares of Trex (NYSE TREX) traded down 0.34% during mid-day trading on Friday, hitting $73.51. 210,296 shares of the stock traded hands. The stock has a market cap of $2.16 billion, a P/E ratio of 28.19 and a beta of 2.36. Trex has a 12-month low of $50.81 and a 12-month high of $82.04. The firm’s 50 day moving average price is $73.42 and its 200-day moving average price is $69.50.
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Several equities research analysts recently commented on TREX shares. Griffin Securities lowered shares of Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st. FBR & Co lifted their price objective on shares of Trex from $69.00 to $80.00 and gave the company a “mkt perform” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Seaport Global Securities upgraded shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Thursday, June 1st. Finally, Sidoti began coverage on shares of Trex in a research note on Thursday, June 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Trex presently has a consensus rating of “Buy” and a consensus target price of $75.20.
In related news, SVP William R. Gupp sold 3,500 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $77.18, for a total value of $270,130.00. Following the sale, the senior vice president now owns 41,711 shares of the company’s stock, valued at approximately $3,219,254.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Paul Gerhard sold 3,920 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $79.69, for a total transaction of $312,384.80. Following the completion of the sale, the vice president now directly owns 26,560 shares in the company, valued at approximately $2,116,566.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,680 shares of company stock worth $1,145,196. Corporate insiders own 0.95% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TREX. Russell Investments Group Ltd. boosted its position in Trex by 154.8% in the first quarter. Russell Investments Group Ltd. now owns 4,916 shares of the construction company’s stock valued at $341,000 after buying an additional 2,987 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Trex by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 37,800 shares of the construction company’s stock valued at $2,623,000 after buying an additional 252 shares during the last quarter. Meritage Portfolio Management boosted its position in Trex by 1.4% in the first quarter. Meritage Portfolio Management now owns 88,070 shares of the construction company’s stock valued at $6,111,000 after buying an additional 1,235 shares during 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 during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Trex by 39.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,170 shares of the construction company’s stock valued at $289,000 after buying an additional 1,170 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
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