StockNews.com Lowers REX American Resources (NYSE:REX) to Hold

StockNews.com cut shares of REX American Resources (NYSE:REX) from a buy rating to a hold rating in a research note released on Thursday.

Separately, Truist Financial reissued a buy rating and issued a $70.00 target price (up from $58.00) on shares of REX American Resources in a research report on Friday, April 12th.

REX American Resources Trading Up 0.6 %

Shares of REX American Resources stock opened at $56.02 on Thursday. The business’s fifty day simple moving average is $55.17 and its 200 day simple moving average is $47.19. The firm has a market capitalization of $980.35 million, a P/E ratio of 14.94 and a beta of 1.08. REX American Resources has a 12 month low of $31.96 and a 12 month high of $60.78.

REX American Resources (NYSE:REX) last issued its quarterly earnings results on Thursday, March 28th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.45. The business had revenue of $187.61 million for the quarter, compared to analyst estimates of $170.00 million. REX American Resources had a return on equity of 11.53% and a net margin of 8.43%. Analysts predict that REX American Resources will post 1.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other REX American Resources news, insider Stuart A. Rose sold 4,943 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $58.57, for a total value of $289,511.51. Following the completion of the sale, the insider now directly owns 1,487,362 shares of the company’s stock, valued at $87,114,792.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Stuart A. Rose sold 5,041 shares of REX American Resources stock in a transaction on Friday, April 5th. The stock was sold at an average price of $58.08, for a total value of $292,781.28. Following the completion of the transaction, the insider now directly owns 1,492,305 shares in the company, valued at $86,673,074.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stuart A. Rose sold 4,943 shares of REX American Resources stock in a transaction on Monday, April 8th. The shares were sold at an average price of $58.57, for a total value of $289,511.51. Following the completion of the transaction, the insider now owns 1,487,362 shares of the company’s stock, valued at $87,114,792.34. The disclosure for this sale can be found here. Insiders sold 111,984 shares of company stock valued at $6,643,493 over the last ninety days. 11.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On REX American Resources

Several hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in shares of REX American Resources by 84.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 893 shares of the energy company’s stock valued at $36,000 after purchasing an additional 409 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in REX American Resources by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,657 shares of the energy company’s stock worth $1,096,000 after buying an additional 569 shares in the last quarter. AJOVista LLC purchased a new position in REX American Resources during the fourth quarter worth about $29,000. Wedge Capital Management L L P NC grew its position in REX American Resources by 8.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 10,537 shares of the energy company’s stock worth $498,000 after buying an additional 850 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in REX American Resources by 13.1% during the first quarter. New York State Teachers Retirement System now owns 8,615 shares of the energy company’s stock worth $506,000 after buying an additional 1,000 shares in the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

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.