REX American Resources (NYSE:REX) Sets 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 Wednesday . The company traded as high as $53.64 and last traded at $52.99, with a volume of 95019 shares traded. The stock had previously closed at $52.78.

Wall Street Analyst Weigh In

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

REX American Resources Stock Performance

The firm has a fifty day moving average price of $45.42 and a 200 day moving average price of $41.86. The firm has a market capitalization of $896.13 million, a price-to-earnings ratio of 16.90 and a beta of 0.56.

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

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

Institutional Trading of REX American Resources

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in REX American Resources by 340.4% during the first quarter. SG Americas Securities LLC now owns 25,022 shares of the energy company's stock worth $940,000 after purchasing an additional 19,340 shares during the last quarter. GAMMA Investing LLC raised its holdings in REX American Resources by 5,304.6% during the first quarter. GAMMA Investing LLC now owns 7,026 shares of the energy company's stock worth $264,000 after purchasing an additional 6,896 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in REX American Resources by 8.6% during the fourth quarter. Ameriprise Financial Inc. now owns 89,543 shares of the energy company's stock worth $3,733,000 after purchasing an additional 7,098 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in REX American Resources by 19.0% during the fourth quarter. JPMorgan Chase & Co. now owns 123,419 shares of the energy company's stock worth $5,145,000 after purchasing an additional 19,686 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in REX American Resources by 23.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,035 shares of the energy company's stock worth $1,961,000 after purchasing an additional 9,025 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

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.