REX American Resources (NYSE:REX – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at Truist Financial in a report released on Thursday,Benzinga reports. They presently have a $50.00 price objective on the energy company’s stock, down from their prior price objective of $55.00. Truist Financial’s price target suggests a potential upside of 32.40% from the company’s previous close.
REX American Resources Price Performance
NYSE REX traded down $1.66 during trading hours on Thursday, reaching $37.76. 232,437 shares of the stock traded hands, compared to its average volume of 155,530. The company has a market cap of $663.40 million, a price-to-earnings ratio of 9.89 and a beta of 0.92. REX American Resources has a 1 year low of $35.40 and a 1 year high of $60.79. The stock has a 50 day simple moving average of $39.72 and a two-hundred day simple moving average of $42.57.
REX American Resources (NYSE:REX – Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.36. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The business had revenue of $158.23 million for the quarter, compared to analysts’ expectations of $163.00 million. During the same period in the previous year, the firm earned $1.16 EPS. On average, sell-side analysts forecast that REX American Resources will post 2.93 EPS for the current fiscal year.
REX American Resources declared that its Board of Directors has initiated a share buyback program on Wednesday, March 26th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the energy company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Hedge Funds Weigh In On REX American Resources
Several hedge funds and other institutional investors have recently bought and sold shares of REX. Intech Investment Management LLC bought a new position in shares of REX American Resources in the third quarter worth approximately $213,000. Cerity Partners LLC boosted its stake in shares of REX American Resources by 26.3% during the 3rd quarter. Cerity Partners LLC now owns 10,190 shares of the energy company’s stock worth $472,000 after purchasing an additional 2,122 shares during the period. FMR LLC grew its stake in shares of REX American Resources by 34.8% during the third quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after buying an additional 605 shares during the last quarter. BNP Paribas Financial Markets increased its stake in REX American Resources by 9.6% in the third quarter. BNP Paribas Financial Markets now owns 10,353 shares of the energy company’s stock worth $479,000 after purchasing an additional 904 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in REX American Resources by 6.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 32,103 shares of the energy company’s stock worth $1,486,000 after acquiring an additional 2,075 shares in the last quarter. 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.
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Source: marketbeat.com
