REX American Resources (NYSE:REX) Stock Rating Cut to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded REX American Resources from “strong buy” to “buy,” while Weiss Ratings also lowered its rating; the stock still has a consensus “Buy” rating.
• REX shares opened at $43.46, with a $1.44 billion market capitalization and a 12-month trading range of $30.31 to $53.36. The company reported quarterly EPS of $1.06, exceeding the $0.42 consensus estimate, although revenue of $168.49 million missed expectations.
• Insider Stuart Rose sold 50,000 shares for approximately $2.13 million, while institutional investors own 88.12% of the company’s stock.

REX American Resources (NYSE:REX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings cut REX American Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

REX American Resources Trading Down 0.7%

Shares of REX stock opened at $43.46 on Friday. The stock has a 50 day moving average of $42.98 and a two-hundred day moving average of $44.71. REX American Resources has a 12 month low of $30.31 and a 12 month high of $53.36. The company has a market capitalization of $1.44 billion, a P/E ratio of 11.91 and a beta of 0.60.

REX American Resources (NYSE:REX - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The energy company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.64. The company had revenue of $168.49 million for the quarter, compared to analyst estimates of $194.81 million. REX American Resources had a return on equity of 16.90% and a net margin of 18.31%.

Insider Activity

In other news, insider Stuart Rose sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $42.55, for a total value of $2,127,500.00. Following the transaction, the insider directly owned 2,278,324 shares of the company's stock, valued at $96,942,686.20. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.21% of the company's stock.

Institutional Investors Weigh In On REX American Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of REX. Tidal Investments LLC bought a new stake in REX American Resources during the 2nd quarter worth about $218,000. Engineers Gate Manager LP raised its stake in shares of REX American Resources by 58.3% in the second quarter. Engineers Gate Manager LP now owns 12,660 shares of the energy company's stock worth $572,000 after acquiring an additional 4,663 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of REX American Resources in the second quarter worth about $42,000. Nykredit A S acquired a new position in shares of REX American Resources during the second quarter worth approximately $88,000. Finally, Amundi lifted its position in shares of REX American Resources by 45.4% during the second quarter. Amundi now owns 35,613 shares of the energy company's stock worth $1,608,000 after purchasing an additional 11,114 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

About REX American Resources

REX American Resources Corporation is an ethanol production and investment company headquartered in Dayton, Ohio. Through its subsidiaries and equity investments, the company has interests in ethanol production facilities located primarily in the U.S. Midwest.

REX's principal products include fuel-grade ethanol, distillers grains and corn oil. Ethanol is produced from corn and sold for use as a renewable fuel and gasoline-blending component, while distillers grains and corn oil are marketed primarily for use in animal feed and other industrial applications.

The company's operations and investments have included facilities in states such as Illinois, Iowa and Minnesota.

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