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Trex Co. Inc. is manufacturing and selling polyethylene pellets made from recycled plastic into the plastic bag, film and sheet markets, Chairman, President and CEO Ronald Kaplan announced Aug. 4 along with second-quarter results.
In the past three months, Trex, the world's largest manufacturer of wood-alternative decking and railing, recorded sales of $121.3 million, a 23 percent increase over the $98.6 million in revenue posted during the same period last year and a 10 percent bump over the first quarter.
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The tax increase impacted earnings per share by said, 'As we expected, second-quarter sales were strong largely due to pent-up demand and market share gains.
The firm currently has a $37.00 price objective on the stock. Stifel Nicolaus' target price suggests a potential upside of 29.82% from the stock's previous close.
Updated: Tue Aug 19, 2014 07:19 am
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