REX American Resources (NYSE:REX) Reaches New 52-Week High - Time to Buy?

REX American Resources Corporation (NYSE:REX - Get Free Report)'s share price hit a new 52-week high during mid-day 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.

Analyst Upgrades and Downgrades

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 Performance

The stock has a market cap of $868.46 million, a price-to-earnings ratio of 16.38 and a beta of 0.56. The firm's 50-day simple moving average is $44.37 and its two-hundred day simple moving average is $41.52.

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

REX American Resources declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 26th that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the energy company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of REX American Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,316,404 shares of the energy company's stock valued at $49,457,000 after purchasing an additional 11,785 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of REX American Resources by 2.5% in the 4th quarter. Renaissance Technologies LLC now owns 876,003 shares of the energy company's stock valued at $36,521,000 after purchasing an additional 21,488 shares during the last quarter. Brown Advisory Inc. boosted its stake in REX American Resources by 7.7% during the 1st quarter. Brown Advisory Inc. now owns 735,300 shares of the energy company's stock worth $27,625,000 after acquiring an additional 52,737 shares during the last quarter. Systematic Financial Management LP boosted its stake in REX American Resources by 3.5% during the 4th quarter. Systematic Financial Management LP now owns 717,303 shares of the energy company's stock worth $29,904,000 after acquiring an additional 24,377 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in REX American Resources by 9.7% during the 1st quarter. American Century Companies Inc. now owns 462,314 shares of the energy company's stock worth $17,369,000 after acquiring an additional 40,693 shares during the last quarter. Institutional investors own 88.12% of the company's stock.

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.