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

Trex Company, Inc. (NYSE:TREX - Get Free Report) Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Trex Price Performance

NYSE:TREX traded down $2.20 during trading hours on Monday, reaching $59.49. 1,354,649 shares of the stock were exchanged, compared to its average volume of 1,357,276. The stock has a market cap of $6.37 billion, a PE ratio of 27.16, a PEG ratio of 2.51 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $58.68 and a twelve month high of $100.77. The firm has a 50 day moving average of $68.96 and a 200 day moving average of $68.76.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million during the quarter, compared to analysts' expectations of $160.54 million. Equities research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TREX. StockNews.com raised Trex from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Bank of America cut their target price on Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. DA Davidson restated a "neutral" rating and set a $74.00 target price on shares of Trex in a research report on Tuesday, February 25th. Truist Financial cut their price target on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group decreased their price objective on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $78.38.

Institutional Trading of Trex

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the 3rd quarter valued at approximately $30,000. Mather Group LLC. raised its position in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after acquiring an additional 473 shares during the last quarter. Huntington National Bank grew its position in shares of Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after acquiring an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Trex during the 4th quarter worth about $41,000. Institutional investors own 95.96% of the company's stock.

Trex Company Profile

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.