REX American Resources (NYSE:REX) Stock Crosses Above 200 Day Moving Average - What's Next?

REX American Resources Corporation (NYSE:REX - Get Free Report) passed 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.

Analysts Set New Price Targets

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

REX American Resources Stock Performance

The stock has a market cap of $868.46 million, a P/E ratio of 16.38 and a beta of 0.56. The company's 50 day moving average price is $44.37 and its 200-day moving average price is $41.50.

REX American Resources (NYSE:REX - Get Free Report) last posted its earnings results on Wednesday, May 28th. The energy company reported $0.51 earnings per share (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 analyst estimates 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 fiscal year.

REX American Resources declared that its board has authorized a stock buyback plan on Wednesday, March 26th that authorizes the company to buyback 1,500,000 shares. This buyback authorization authorizes the energy company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On REX American Resources

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in REX American Resources by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,316,404 shares of the energy company's stock valued at $49,457,000 after buying an additional 11,785 shares during the period. Renaissance Technologies LLC grew its position in REX American Resources by 2.5% during the fourth quarter. Renaissance Technologies LLC now owns 876,003 shares of the energy company's stock valued at $36,521,000 after buying an additional 21,488 shares during the period. Brown Advisory Inc. grew its position in REX American Resources by 7.7% during the first quarter. Brown Advisory Inc. now owns 735,300 shares of the energy company's stock valued at $27,625,000 after buying an additional 52,737 shares during the period. Systematic Financial Management LP grew its position in REX American Resources by 3.5% during the fourth quarter. Systematic Financial Management LP now owns 717,303 shares of the energy company's stock valued at $29,904,000 after buying an additional 24,377 shares during the period. Finally, American Century Companies Inc. grew its position in REX American Resources by 9.7% during the first quarter. American Century Companies Inc. now owns 462,314 shares of the energy company's stock valued at $17,369,000 after buying an additional 40,693 shares during the period. Institutional investors 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.