REX American Resources (NYSE:REX) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Shares of REX American Resources Corporation (NYSE:REX - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $41.21 and traded as high as $50.13. REX American Resources shares last traded at $48.79, with a volume of 179,297 shares.

Wall Street Analysts Forecast Growth

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

REX American Resources Price Performance

The company has a market capitalization 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 $43.88 and its two-hundred day simple moving average is $41.34.

REX American Resources (NYSE:REX - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The energy company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. The business had revenue of $158.34 million for 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%. On average, analysts expect that REX American Resources Corporation will post 2.93 EPS for the current fiscal year.

REX American Resources announced that its board has initiated a share repurchase plan on Wednesday, March 26th that authorizes the company to repurchase 1,500,000 outstanding shares. This repurchase authorization authorizes the energy company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On REX American Resources

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in shares of REX American Resources by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 81,726 shares of the energy company's stock worth $3,407,000 after purchasing an additional 3,094 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in REX American Resources by 2.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 8,720 shares of the energy company's stock valued at $364,000 after purchasing an additional 245 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in REX American Resources in the 4th quarter worth about $890,000. Victory Capital Management Inc. grew its holdings in REX American Resources by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 84,316 shares of the energy company's stock valued at $3,515,000 after buying an additional 1,221 shares during the period. Finally, AlphaQuest LLC acquired a new position in shares of REX American Resources during the 4th quarter valued at about $46,000. 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.