Press coverage about Trex (NYSE:TREX) has been trending somewhat positive recently, according to Accern. The research firm identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Trex earned a news sentiment score of 0.10 on Accern’s scale. Accern also gave media stories about the construction company an impact score of 46.2446937444911 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s rankings:
Shares of Trex stock opened at $117.58 on Friday. The company has a market cap of $3.36 billion, a P/E ratio of 37.21 and a beta of 2.27. Trex has a 52 week low of $61.57 and a 52 week high of $125.93.
Shares of Trex are going to split before the market opens on Wednesday, May 30th. The 2-1 split was announced on Monday, May 7th. The newly issued shares will be distributed to shareholders after the market closes on Friday, June 15th.
Trex (NYSE:TREX) last announced its earnings results on Monday, May 7th. The construction company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.06. The company had revenue of $171.20 million during the quarter, compared to the consensus estimate of $172.18 million. Trex had a return on equity of 45.74% and a net margin of 17.63%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. research analysts expect that Trex will post 4.26 EPS for the current year.
Trex declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 21st that allows the company to buyback 2,900,000 shares. This buyback authorization allows the construction company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
TREX has been the subject of several recent research reports. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. B. Riley upped their target price on Trex from $125.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Sidoti upgraded Trex from a “neutral” rating to a “buy” rating and set a $127.00 target price for the company in a report on Tuesday, May 8th. Finally, Stifel Nicolaus restated a “hold” rating and set a $110.00 target price (up previously from $100.00) on shares of Trex in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $108.57.
In related news, Director Patricia B. Robinson sold 3,255 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $105.00, for a total value of $341,775.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 1,481 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $111.50, for a total value of $165,131.50. Following the completion of the sale, the director now directly owns 11,674 shares in the company, valued at $1,301,651. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,427 shares of company stock valued at $7,399,571. 0.95% of the stock is owned by corporate insiders.
Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.
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