REX American Resources’ (REX) Buy Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of REX American Resources (NYSE:REX) in a research report released on Thursday morning,Benzinga reports. Truist Financial currently has a $50.00 price objective on the energy company’s stock, down from their previous price objective of $55.00.

REX American Resources Stock Up 2.2 %

REX American Resources stock opened at $39.47 on Thursday. REX American Resources has a 52-week low of $35.40 and a 52-week high of $60.79. The firm has a market cap of $693.44 million, a PE ratio of 10.33 and a beta of 0.92. The company’s 50 day moving average is $39.80 and its two-hundred day moving average is $42.60.

REX American Resources (NYSE:REX) last announced its quarterly earnings data on Wednesday, March 26th. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $158.23 million for the quarter, compared to analysts’ expectations of $163.00 million. During the same period last year, the firm earned $1.16 earnings per share. On average, equities research analysts anticipate 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 authorized a stock buyback plan on Wednesday, March 26th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the energy company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in REX. AlphaQuest LLC acquired a new stake in shares of REX American Resources in the 4th quarter valued at $46,000. FMR LLC lifted its holdings in REX American Resources by 34.8% during the 3rd quarter. FMR LLC now owns 2,345 shares of the energy company’s stock worth $109,000 after buying an additional 605 shares during the last quarter. State of Wyoming boosted its position in shares of REX American Resources by 67.3% during the 4th quarter. State of Wyoming now owns 3,616 shares of the energy company’s stock worth $151,000 after acquiring an additional 1,454 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of REX American Resources during the 4th quarter worth about $200,000. Finally, Intech Investment Management LLC purchased a new position in shares of REX American Resources in the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

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.