REX American Resources (NYSE:REX) Reaches New 1-Year High - Still a Buy?

REX American Resources Corporation (NYSE:REX - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $52.32 and last traded at $52.18, with a volume of 26961 shares traded. The stock had previously closed at $51.41.

Wall Street Analyst Weigh In

Separately, Truist Financial restated a "buy" rating and issued a $50.00 price objective (down previously from $55.00) on shares of REX American Resources in a research report on Thursday, March 27th.

REX American Resources Stock Up 2.6%

The business has a 50-day moving average price of $43.88 and a two-hundred day moving average price of $41.34. The company has a market cap of $868.46 million, a P/E ratio of 16.38 and a beta of 0.56.

REX American Resources (NYSE:REX - Get Free Report) last released its earnings results on Wednesday, May 28th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.17. REX American Resources had a net margin of 8.86% and a return on equity of 8.97%. The company had revenue of $158.34 million for the quarter, compared to the consensus estimate of $161.00 million. As a group, sell-side analysts expect that REX American Resources Corporation will post 2.93 EPS for the current fiscal year.

REX American Resources announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 26th that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the energy company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On REX American Resources

Several hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in REX American Resources by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 81,726 shares of the energy company's stock worth $3,407,000 after buying an additional 3,094 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of REX American Resources by 2.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 8,720 shares of the energy company's stock worth $364,000 after purchasing an additional 245 shares during the period. Proficio Capital Partners LLC bought a new position in shares of REX American Resources during the 4th quarter valued at about $890,000. Victory Capital Management Inc. lifted its holdings in shares of REX American Resources by 1.5% during the 4th quarter. Victory Capital Management Inc. now owns 84,316 shares of the energy company's stock valued at $3,515,000 after purchasing an additional 1,221 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in REX American Resources during the 4th quarter worth approximately $46,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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