Trex Company Shares Fall 28% Despite Strong Q3 Results

(RTTNews) - Trex Company, Inc. (TREX) shares plunged 28.7 percent to $33.55 on Wednesday, even as the company reported solid third-quarter results with higher sales and profits.

Compared to $234 million in the same period last year, the company's third-quarter net sales of $285 million represented a 22.1 percent increase. In comparison to the previous year's quarter, when net income was $41 million, or $0.37 per share, it climbed 27.7 percent to $52 million, or $0.48 per share.

In the course of the New York Stock Exchange session, the stock fluctuated between $33.06 and $37.24 from its opening price of $34.00. The most recent close was $33.55, down from a previous close of $47.04. Compared to the average of 1.7 million shares, trading volume increased to approximately 12.9 million shares.

During the last 52 weeks, Trex shares have fluctuated between $33.06 and $80.74.