Park Place Capital Corp Sells 406 Shares of Trex Company, Inc. (NYSE:TREX)

Park Place Capital Corp cut its position in Trex Company, Inc. (NYSE:TREX) by 50.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400 shares of the construction company’s stock after selling 406 shares during the quarter. Park Place Capital Corp’s holdings in Trex were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TREX. V Square Quantitative Management LLC bought a new stake in Trex in the 4th quarter valued at $25,000. Mather Group LLC. acquired a new position in Trex in the 1st quarter valued at $26,000. Contravisory Investment Management Inc. acquired a new position in Trex in the 4th quarter valued at $28,000. Headinvest LLC acquired a new position in Trex in the 3rd quarter valued at $29,000. Finally, Sunbelt Securities Inc. raised its holdings in Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after acquiring an additional 314 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now directly owns 25,746 shares in the company, valued at approximately $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Trex in a report on Tuesday, May 14th. Robert W. Baird dropped their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, Barclays lifted their price objective on Trex from $93.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.47.

Trex Price Performance

TREX opened at $72.65 on Tuesday. The business has a 50 day simple moving average of $85.54 and a two-hundred day simple moving average of $87.68. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.63 and a beta of 1.50. Trex Company, Inc. has a one year low of $53.59 and a one year high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm had revenue of $373.64 million for the quarter, compared to the consensus estimate of $367.31 million. During the same quarter in the prior year, the business earned $0.38 EPS. The business’s revenue for the quarter was up 56.5% on a year-over-year basis. As a group, sell-side analysts expect that Trex Company, Inc. will post 2.26 EPS for the current fiscal year.

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.