On this dark and stormy April 21, 2023, let’s shed some light on the current state of Trex Company, Inc. The renowned New York Stock Exchange (NYSE), TREX, has been generating interesting responses from the stock market in recent times. As per a report from bloomberg.com, seventeen analysts have been covering the investment potential of this firm. The consensus that they’ve arrived at collectively can give you an idea of what to expect if you’re eyeing TREX at present.
It is intriguing to note that although all seventeen analysts are looking at the same company, their views appear to vary when it comes to estimating its worth. One research analyst has even decided that holding onto shares of TREX isn’t in your best interest and has slapped a sell rating on these stocks. However, majority rules! And so eight other experts believe that holding onto these stocks is not a bad decision – they’ve categorized it under “Hold.”
On the other hand, six analysts drew up a positive reference for those buying into Trex Company Inc., ranking it as a buy rating.
But what makes TREX stand out?” These ratings would have very little merit without an associated price objective. Interestingly, over the last year itself, analysts’ votes indicate TREX can be fruitful within one year with an average 1-year price objective of $58.93.
As you analyze whether or not TREX is worth investing in through these complex outlooks provided by various financial experts undoubtedly added complexity and confusion most likely generated more questions than answers which only goes to show that we have much left to uncover about Trex Company Inc.’s share prices before we make any final decisions about investments!
Trex Stock: Analysts and Hedge Funds Show Interest and Varying Opinions
As of April 21, 2023, there has been much activity surrounding the stock of Trex, a construction company. Several research analysts have weighed in on the stock, with differing opinions and price objectives. Robert W. Baird gave the stock a “neutral” rating and raised their price objective from $52 to $58. B. Riley dropped their price objective from $65 to $62 but still gave the company a “buy” rating. Barclays raised their target price on shares from $51 to $53 and gave the stock an “equal weight” rating. StockNews.com upgraded Trex’s rating from “sell” to “hold.” Finally, Credit Suisse Group restated their “underperform” rating and set a target price of $43.
In addition, several hedge funds have made changes to their positions in Trex. Harrington Investments INC increased their holdings by 2.6% during the fourth quarter and now owns 9,504 shares valued at $402,000 after acquiring an additional 243 shares in the last quarter. Covestor Ltd saw an incredible increase in holdings of almost 179%, now owning 382 shares valued at $25,000 after acquiring an additional 245 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings by 19.5% during the third quarter and now owns 1,560 shares valued at $69,000 after acquiring an additional 255 shares. MML Investors Services also increased its holdings by 1.5% during the third quarter and now owns 17,495 shares valued at $769,000 after acquiring an additional 258 shares in the last quarter. Lastly, American Trust lifted its holdings by 5.7% during the fourth quarter and now owns 4,887 shares valued at $207,000 after acquiring an additional 264 shares.
All of this activity demonstrates a significant interest in Trex and varying opinions on its potential growth. Whether investors are choosing to hold or buy into Trex, it is evident that this construction company is getting attention from analysts and hedge funds alike. It will be interesting to see how these changes affect the stock’s performance in the coming months.
