REX American Resources (NYSE:REX – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at Truist Financial in a research note issued to investors on Thursday, Benzinga reports. They currently have a $65.00 price target on the energy company’s stock, down from their prior price target of $70.00. Truist Financial’s price objective points to a potential upside of 29.29% from the stock’s current price.
Separately, StockNews.com downgraded shares of REX American Resources from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd.
View Our Latest Stock Analysis on REX American Resources
REX American Resources Stock Performance
Shares of REX traded down $2.36 during midday trading on Thursday, hitting $50.28. 235,873 shares of the stock traded hands, compared to its average volume of 159,139. REX American Resources has a 1-year low of $31.96 and a 1-year high of $60.78. The business’s 50 day moving average price is $55.70 and its two-hundred day moving average price is $47.56. The firm has a market capitalization of $879.81 million, a PE ratio of 13.41 and a beta of 1.08.
REX American Resources (NYSE:REX – Get Free Report) last posted its earnings results on Thursday, March 28th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.71 by $0.45. The firm had revenue of $187.61 million during the quarter, compared to analysts’ expectations of $170.00 million. REX American Resources had a net margin of 8.43% and a return on equity of 11.53%. As a group, equities research analysts forecast that REX American Resources will post 1.77 EPS for the current fiscal year.
Insider Buying and Selling at REX American Resources
In other news, CFO Douglas Bruggeman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $59.60, for a total value of $119,200.00. Following the completion of the sale, the chief financial officer now directly owns 88,605 shares of the company’s stock, valued at $5,280,858. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other REX American Resources news, Director Lee Fisher sold 4,362 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $56.42, for a total value of $246,104.04. Following the transaction, the director now owns 6,001 shares in the company, valued at $338,576.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas Bruggeman sold 2,000 shares of REX American Resources stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $59.60, for a total value of $119,200.00. Following the sale, the chief financial officer now owns 88,605 shares of the company’s stock, valued at $5,280,858. The disclosure for this sale can be found here. Insiders have sold a total of 116,346 shares of company stock valued at $6,889,597 in the last 90 days. 11.68% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On REX American Resources
Several hedge funds and other institutional investors have recently added to or reduced their stakes in REX. Brightline Capital Management LLC bought a new stake in REX American Resources during the fourth quarter worth approximately $7,946,000. South Dakota Investment Council raised its holdings in REX American Resources by 256.4% in the 4th quarter. South Dakota Investment Council now owns 162,231 shares of the energy company’s stock worth $7,674,000 after acquiring an additional 116,710 shares during the period. Vanguard Group Inc. lifted its position in REX American Resources by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 1,201,410 shares of the energy company’s stock worth $70,535,000 after acquiring an additional 68,211 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in REX American Resources by 96.3% during the fourth quarter. Russell Investments Group Ltd. now owns 67,858 shares of the energy company’s stock valued at $3,210,000 after acquiring an additional 33,298 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of REX American Resources by 212.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 43,420 shares of the energy company’s stock valued at $2,552,000 after purchasing an additional 29,522 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.
About REX American Resources
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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