REX American Resources (NYSE:REX) Shares Gap Up on Earnings Beat

REX American Resources Co. (NYSE:REX - Get Free Report) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $42.65, but opened at $43.62. REX American Resources shares last traded at $41.68, with a volume of 16,868 shares.

The energy company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.34 by $0.17. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The business had revenue of $158.34 million during the quarter, compared to analysts' expectations of $161.00 million.

REX American Resources declared that its Board of Directors has approved a share buyback program on Wednesday, March 26th that permits the company to buyback 1,500,000 shares. This buyback authorization permits the energy company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On REX American Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in REX. AlphaQuest LLC acquired a new stake in shares of REX American Resources in the 4th quarter valued at approximately $46,000. CWM LLC raised its position in REX American Resources by 139.8% in the first quarter. CWM LLC now owns 1,990 shares of the energy company's stock worth $75,000 after acquiring an additional 1,160 shares in the last quarter. State of Wyoming lifted its holdings in REX American Resources by 67.3% in the fourth quarter. State of Wyoming now owns 3,616 shares of the energy company's stock valued at $151,000 after acquiring an additional 1,454 shares during the period. GF Fund Management CO. LTD. acquired a new stake in REX American Resources in the fourth quarter valued at $200,000. Finally, South Dakota Investment Council purchased a new stake in shares of REX American Resources during the 1st quarter worth $210,000. Institutional investors and hedge funds own 88.12% of the company's stock.

REX American Resources Stock Performance

The company has a market capitalization of $700.36 million, a PE ratio of 11.03 and a beta of 0.51. The firm's 50-day simple moving average is $39.90 and its 200 day simple moving average is $40.72.

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.