REX American Resources Corporation (NYSE:REX - Get Free Report) shares reached a new 52-week high on Wednesday . The stock 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.
Analysts Set New Price Targets
Separately, Truist Financial reissued a "buy" rating and issued a $50.00 price objective (down from $55.00) on shares of REX American Resources in a research note on Thursday, March 27th.
Read Our Latest Research Report on REX
REX American Resources Stock Up 1.6%
The stock's 50 day moving average price is $44.85 and its 200-day moving average price is $41.69. The stock has a market capitalization of $887.84 million, a PE ratio of 16.74 and a beta of 0.56.
REX American Resources (NYSE:REX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The energy company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. The firm had revenue of $158.34 million during the quarter, compared to analysts' expectations of $161.00 million. REX American Resources had a net margin of 8.86% and a return on equity of 8.97%. On average, analysts forecast that REX American Resources Corporation will post 2.93 earnings per share for the current year.
REX American Resources announced that its Board of Directors has initiated a share buyback program on Wednesday, March 26th that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the energy company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.
Institutional Trading of REX American Resources
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its stake in REX American Resources by 1.2% during 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 stake in REX American Resources by 3.8% during 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 stake in REX American Resources by 2.0% during 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 stake in REX American Resources by 6.9% during 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 purchased 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.
About REX American Resources
(
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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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