REX American Resources (NYSE:REX) Sets New 1-Year High - Time to Buy?

REX American Resources Corporation (NYSE:REX - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $53.64 and last traded at $52.99, with a volume of 95019 shares trading hands. The stock had previously closed at $52.78.

Analysts Set New Price Targets

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

REX American Resources Trading Up 0.6%

The firm has a 50-day moving average of $45.70 and a 200 day moving average of $41.96. The company has a market cap of $899.81 million, a P/E ratio of 16.97 and a beta of 0.56.

REX American Resources (NYSE:REX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The energy company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.34 by $0.17. The firm had revenue of $158.34 million during the quarter, compared to the consensus estimate of $161.00 million. REX American Resources had a return on equity of 8.97% and a net margin of 8.86%. On average, equities analysts predict that REX American Resources Corporation will post 2.93 EPS for the current year.

REX American Resources announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 26th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the energy company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of REX American Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. grew its holdings in shares of REX American Resources by 1.2% in the first quarter. Alps Advisors Inc. now owns 24,272 shares of the energy company's stock valued at $912,000 after acquiring an additional 292 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of REX American Resources by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,771 shares of the energy company's stock valued at $366,000 after acquiring an additional 323 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of REX American Resources by 2.0% in the first quarter. SummerHaven Investment Management LLC now owns 17,792 shares of the energy company's stock valued at $668,000 after acquiring an additional 345 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of REX American Resources by 6.9% in the first quarter. Ieq Capital LLC now owns 6,586 shares of the energy company's stock valued at $247,000 after acquiring an additional 424 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in REX American Resources during the fourth quarter valued at $46,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

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.