REX American Resources (NYSE:REX) Shares Gap Up After Better-Than-Expected Earnings

REX American Resources Co. (NYSE:REX)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $36.61, but opened at $39.99. REX American Resources shares last traded at $38.81, with a volume of 39,578 shares trading hands.

The energy company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.36. The company had revenue of $158.23 million for the quarter, compared to the consensus estimate of $163.00 million. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. During the same period in the prior year, the firm posted $1.16 EPS.

REX American Resources declared that its board has initiated a stock buyback program on Wednesday, March 26th that allows the company to buyback 1,500,000 shares. This buyback authorization allows the energy company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Separately, Truist Financial reissued a “buy” rating and set a $50.00 target price (down previously from $55.00) on shares of REX American Resources in a research report on Thursday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AlphaQuest LLC purchased a new stake in REX American Resources in the fourth quarter valued at $46,000. FMR LLC lifted its holdings in shares of REX American Resources by 34.8% in the 3rd quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $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% in the 4th 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 during the last quarter. Intech Investment Management LLC purchased a new position in REX American Resources during the 3rd quarter worth approximately $213,000. Finally, GF Fund Management CO. LTD. purchased a new position in REX American Resources during the 4th quarter worth approximately $200,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

REX American Resources Stock Up 2.2 %

The company has a market cap of $693.44 million, a price-to-earnings ratio of 10.33 and a beta of 0.92. The firm has a 50-day simple moving average of $39.80 and a 200 day simple moving average of $42.60.

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.