REX American Resources' (REX) "Buy" Rating Reiterated at Truist Financial

REX American Resources (NYSE:REX - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Truist Financial in a report issued on Thursday,Benzinga reports. They currently have a $50.00 price objective on the energy company's stock, down from their previous price objective of $55.00. Truist Financial's price objective would indicate a potential upside of 34.46% from the stock's previous close.

REX American Resources Price Performance

REX American Resources stock traded down $0.72 during mid-day trading on Thursday, hitting $37.19. 40,140 shares of the company's stock traded hands, compared to its average volume of 155,097. REX American Resources has a fifty-two week low of $35.40 and a fifty-two week high of $60.79. The stock has a market cap of $653.23 million, a price-to-earnings ratio of 9.74 and a beta of 0.92. The firm has a 50 day simple moving average of $39.72 and a two-hundred day simple moving average of $42.57.

REX American Resources (NYSE:REX - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $163.00 million. During the same period in the prior year, the firm earned $1.16 EPS. On average, research analysts anticipate that REX American Resources will post 2.93 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On REX American Resources

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of REX American Resources by 87.3% during the third quarter. Barclays PLC now owns 42,855 shares of the energy company's stock worth $1,983,000 after purchasing an additional 19,977 shares during the period. Principal Financial Group Inc. increased its position in shares of REX American Resources by 0.6% in the third quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company's stock worth $3,640,000 after purchasing an additional 432 shares during the period. Proficio Capital Partners LLC acquired a new position in REX American Resources in the fourth quarter valued at about $890,000. HighTower Advisors LLC bought a new stake in shares of REX American Resources during the 3rd quarter worth approximately $246,000. Finally, FMR LLC lifted its stake in REX American Resources by 34.8% during the third quarter. FMR LLC now owns 2,345 shares of the energy company's stock worth $109,000 after purchasing an additional 605 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

About REX American Resources

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.