Truist Financial Reaffirms “Buy” Rating for REX American Resources (NYSE:REX)

Truist Financial reaffirmed their buy rating on shares of REX American Resources (NYSE:REX) in a research report released on Thursday,Benzinga reports. Truist Financial currently has a $50.00 price target on the energy company’s stock, down from their prior price target of $55.00.

REX American Resources Price Performance

NYSE:REX opened at $37.76 on Thursday. The firm has a market cap of $663.40 million, a price-to-earnings ratio of 9.89 and a beta of 0.92. REX American Resources has a 1-year low of $35.40 and a 1-year high of $60.79. The firm’s fifty day moving average price is $39.72 and its 200 day moving average price is $42.57.

REX American Resources (NYSE:REX) last posted its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.36. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. The firm had revenue of $158.23 million during the quarter, compared to analysts’ expectations of $163.00 million. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, analysts expect that REX American Resources will post 2.93 earnings per share for the current fiscal year.

REX American Resources declared that its Board of Directors has authorized a share buyback program on Wednesday, March 26th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the energy company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On REX American Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Illinois Municipal Retirement Fund increased its holdings in shares of REX American Resources by 2.9% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of REX American Resources by 3.8% during the 4th 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 during the period. Principal Financial Group Inc. boosted its stake in shares of REX American Resources by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock worth $3,640,000 after acquiring an additional 432 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of REX American Resources by 5.4% in the 4th quarter. New York State Teachers Retirement System now owns 11,781 shares of the energy company’s stock worth $491,000 after acquiring an additional 600 shares during the period. Finally, FMR LLC increased its stake in REX American Resources by 34.8% in the 3rd quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after purchasing an additional 605 shares in the last quarter. Institutional investors and hedge funds 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.