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

REX American Resources (NYSE:REX)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a note issued to investors 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 target indicates a potential upside of 32.40% from the company’s previous close.

REX American Resources Stock Down 4.2 %

Shares of REX American Resources stock opened at $37.76 on Thursday. The business has a 50 day moving average price of $39.72 and a 200-day moving average price of $42.57. The company has a market cap of $663.40 million, a PE ratio of 9.89 and a beta of 0.92. REX American Resources has a 52 week low of $35.40 and a 52 week high of $60.79.

REX American Resources (NYSE:REX) last posted its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $1.16 earnings per share. As a group, research analysts anticipate that REX American Resources will post 2.93 EPS for the current year.

REX American Resources announced that its Board of Directors has initiated a share buyback program on Wednesday, March 26th that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the energy company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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. Barclays PLC boosted its stake in REX American Resources by 87.3% in the third quarter. Barclays PLC now owns 42,855 shares of the energy company’s stock worth $1,983,000 after buying an additional 19,977 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of REX American Resources by 0.6% during the third quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock valued at $3,640,000 after purchasing an additional 432 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in REX American Resources in the fourth quarter worth about $890,000. HighTower Advisors LLC purchased a new stake in shares of REX American Resources in the third quarter worth $246,000. Finally, FMR LLC lifted 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 buying an additional 605 shares in the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

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.