REX American Resources (NYSE:REX) Reaches New 1-Year High - Here's Why

REX American Resources Corporation (NYSE:REX - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $55.23 and last traded at $54.83, with a volume of 84878 shares trading hands. The stock had previously closed at $54.68.

Analyst Upgrades and Downgrades

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

REX American Resources Price Performance

The stock has a 50-day moving average price of $46.81 and a 200 day moving average price of $42.30. The firm has a market cap of $876.29 million, a price-to-earnings ratio of 16.49 and a beta of 0.56.

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

REX American Resources announced that its board has approved a share buyback program on Wednesday, March 26th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the energy company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Institutional Trading of REX American Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaQuest LLC acquired a new stake in shares of REX American Resources during the fourth quarter worth about $46,000. CWM LLC increased its position in shares of REX American Resources by 139.8% during the first quarter. CWM LLC now owns 1,990 shares of the energy company's stock worth $75,000 after purchasing an additional 1,160 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of REX American Resources by 446.1% during the second quarter. Public Employees Retirement System of Ohio now owns 2,086 shares of the energy company's stock worth $102,000 after purchasing an additional 1,704 shares in the last quarter. State of Wyoming grew its holdings in shares of REX American Resources by 67.3% during the fourth quarter. State of Wyoming now owns 3,616 shares of the energy company's stock worth $151,000 after buying an additional 1,454 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of REX American Resources during the fourth quarter worth about $200,000. 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.