REX American Resources (NYSE:REX) Receives “Buy” Rating from Truist Financial

REX American Resources (NYSE:REX)‘s stock had its “buy” rating reaffirmed by investment analysts at Truist Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $50.00 price target on the energy company’s stock, down from their previous price target of $55.00. Truist Financial’s price target would indicate a potential upside of 26.98% from the company’s current price.

REX American Resources Stock Performance

Shares of NYSE REX traded up $0.77 during mid-day trading on Thursday, hitting $39.38. The stock had a trading volume of 10,588 shares, compared to its average volume of 151,450. The firm has a market cap of $691.70 million, a P/E ratio of 10.32 and a beta of 0.92. The business has a 50 day moving average price of $39.85 and a two-hundred day moving average price of $42.62. REX American Resources has a 1 year low of $35.40 and a 1 year high of $60.79.

REX American Resources (NYSE:REX) last posted its earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.36. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. The company had revenue of $158.23 million during the quarter, compared to analyst estimates of $163.00 million. During the same period in the prior year, the business posted $1.16 earnings per share. Equities research analysts predict that REX American Resources will post 2.93 EPS for the current fiscal year.

REX American Resources declared that its board has initiated a stock buyback plan on Wednesday, March 26th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the energy company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of REX American Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC purchased a new stake in shares of REX American Resources in the 4th quarter worth about $46,000. FMR LLC boosted its position in REX American Resources by 34.8% during the 3rd quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after acquiring an additional 605 shares in the last quarter. State of Wyoming boosted its position in REX American Resources by 67.3% during the 4th quarter. State of Wyoming now owns 3,616 shares of the energy company’s stock valued at $151,000 after acquiring an additional 1,454 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of REX American Resources during the 3rd quarter worth approximately $213,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of REX American Resources in the 4th quarter valued at approximately $200,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

REX American Resources Company Profile

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, ethanol, distillers corn oil, gasoline, and natural gas. In addition, it provides dry distillers grains with solubles, which is used as a protein in animal feed.