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

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

REX American Resources Stock Up 2.0 %

Shares of NYSE REX traded up $0.77 on Thursday, reaching $39.38. 10,588 shares of the company’s stock traded hands, compared to its average volume of 151,450. The business’s 50 day simple moving average is $39.85 and its two-hundred day simple moving average is $42.62. REX American Resources has a 12 month low of $35.40 and a 12 month high of $60.79. The company has a market cap of $691.70 million, a price-to-earnings ratio of 10.32 and a beta of 0.92.

REX American Resources (NYSE:REX) last posted its quarterly earnings data on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, beating 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 company had revenue of $158.23 million during the quarter, compared to analyst estimates of $163.00 million. During the same quarter last year, the company earned $1.16 EPS. Analysts forecast that REX American Resources will post 2.93 earnings per share for the current fiscal year.

REX American Resources announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 26th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the energy company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On REX American Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC bought a new position in REX American Resources in the 4th quarter valued at approximately $46,000. FMR LLC raised its stake in shares of REX American Resources by 34.8% in the third quarter. FMR LLC now owns 2,345 shares of the energy company’s stock worth $109,000 after purchasing an additional 605 shares during the last quarter. State of Wyoming lifted its holdings in shares of REX American Resources by 67.3% during the fourth quarter. State of Wyoming now owns 3,616 shares of the energy company’s stock valued at $151,000 after purchasing an additional 1,454 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of REX American Resources during the third quarter valued at $213,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of REX American Resources in the fourth quarter worth approximately $200,000. 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.