Jefferies Sticks to Their Hold Rating for Trex Company (TREX)
Jefferies analyst Philip Ng maintained a Hold rating on Trex Company (TREX) on June 9 and set a price target of $120.00. The company’s shares closed last Wednesday at $74.68, close to its 52-week high of $81.23.
According to TipRanks.com, Ng is a 5-star analyst with an average return of 14.1% and a 70.0% success rate. Ng covers the Basic Materials sector, focusing on stocks such as Berry Global Group, Vulcan Materials, and Summit Materials.
Currently, the analyst consensus on Trex Company is a Hold with an average price target of $72.83, implying a -4.8% downside from current levels. In a report issued on July 7, Barclays also initiated coverage with a Hold rating on the stock with a $67.00 price target.
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The company has a one-year high of $81.23 and a one-year low of $28.11. Currently, Trex Company has an average volume of 1.6M.
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Trex Co., Inc. engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products. The company was founded by Andrew U. Ferrari and Roger A. Wittenberg on September 4, 1998 and is headquartered in Winchester, VA.