Trex Company, Inc. (NYSE:TREX – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $86.37 and last traded at $86.06, with a volume of 657565 shares trading hands. The stock had previously closed at $81.48.
Analysts Set New Price Targets
A number of research analysts have recently commented on TREX shares. JPMorgan Chase & Co. upgraded Trex from an “underweight” rating to a “neutral” rating and increased their target price for the company from $62.00 to $79.00 in a research report on Thursday, December 14th. BMO Capital Markets increased their target price on Trex from $70.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 31st. Jefferies Financial Group lowered their target price on Trex from $79.00 to $66.00 in a research report on Thursday, October 12th. Barclays downgraded Trex from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $66.00 to $74.00 in a research report on Wednesday, December 13th. Finally, Wolfe Research assumed coverage on Trex in a research report on Tuesday, December 12th. They issued a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.89.
Trex Stock Down 0.3 %
Institutional Trading of Trex
Hedge funds and other institutional investors have recently bought and sold shares of the business. Motley Fool Wealth Management LLC purchased a new position in shares of Trex during the fourth quarter valued at $8,590,000. Truist Financial Corp purchased a new position in shares of Trex during the fourth quarter valued at $303,000. Motley Fool Asset Management LLC increased its stake in shares of Trex by 355.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 83,819 shares of the construction company’s stock valued at $6,939,000 after buying an additional 65,409 shares during the period. Semanteon Capital Management LP purchased a new position in shares of Trex during the fourth quarter valued at $1,273,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Trex by 14.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,900 shares of the construction company’s stock valued at $2,558,000 after buying an additional 3,973 shares during the period. Hedge funds and other institutional investors own 96.42% of the company’s stock.
Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.
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