Truist Financial Issues Pessimistic Forecast for REX American Resources (NYSE:REX) Stock Price

REX American Resources (NYSE:REX) had its target price dropped by research analysts at Truist Financial from $60.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s price objective indicates a potential upside of 35.14% from the stock’s previous close.

REX American Resources Trading Down 0.6 %

REX opened at $40.70 on Monday. The stock has a 50-day moving average of $45.03 and a 200 day moving average of $45.65. REX American Resources has a 12 month low of $39.39 and a 12 month high of $60.78. The firm has a market cap of $715.10 million, a P/E ratio of 10.65 and a beta of 0.90.

REX American Resources (NYSE:REX) last announced its earnings results on Tuesday, December 3rd. The energy company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.66. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. During the same period in the previous year, the business posted $1.49 earnings per share. On average, research analysts forecast that REX American Resources will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REX American Resources

Several hedge funds have recently added to or reduced their stakes in REX. CWM LLC boosted its holdings in REX American Resources by 1,944.1% during the 2nd quarter. CWM LLC now owns 1,206 shares of the energy company’s stock valued at $55,000 after acquiring an additional 1,147 shares during the period. FMR LLC boosted 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 purchasing an additional 605 shares during the period. SG Americas Securities LLC boosted its stake in shares of REX American Resources by 95.5% during the second quarter. SG Americas Securities LLC now owns 4,641 shares of the energy company’s stock valued at $212,000 after purchasing an additional 2,267 shares during the period. Intech Investment Management LLC bought a new position in shares of REX American Resources in the third quarter worth about $213,000. Finally, Diversified Trust Co increased its stake in REX American Resources by 10.5% in the 2nd quarter. Diversified Trust Co now owns 4,854 shares of the energy company’s stock worth $221,000 after buying an additional 460 shares during the period. 88.12% of the stock is currently owned by institutional investors.

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.