Analysts have been eager to weigh in on the Materials sector with new ratings on Freeport-McMoRan (FCX) and Trex Company (TREX).
Freeport-McMoRan (FCX)
B.Riley FBR analyst Lucas Pipes maintained a Buy rating on Freeport-McMoRan yesterday and set a price target of $19.00. The company’s shares closed last Monday at $12.75, close to its 52-week high of $13.64.
According to TipRanks.com, Pipes has 0 stars on 0-5 stars ranking scale with an average return of -15.5% and a 34.2% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Novagold Resources New, US Silica Holdings, and Century Aluminum.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freeport-McMoRan with a $12.59 average price target, representing a 4.9% upside. In a report issued on June 23, Morgan Stanley also maintained a Buy rating on the stock with a $12.50 price target.
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Trex Company (TREX)
B.Riley FBR analyst Alex Rygiel reiterated a Hold rating on Trex Company today and set a price target of $125.00. The company’s shares closed last Monday at $126.75, close to its 52-week high of $132.84.
According to TipRanks.com, Rygiel is a 3-star analyst with an average return of 0.6% and a 50.0% success rate. Rygiel covers the Services sector, focusing on stocks such as Select Interior Concepts, Orion Group Holdings, and Alta Equipment Group.
Currently, the analyst consensus on Trex Company is a Moderate Buy with an average price target of $126.22, which is a -2.5% downside from current levels. In a report released today, Barclays also initiated coverage with a Hold rating on the stock with a $134.00 price target.
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