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

Shares of REX American Resources Co. (NYSE:REX - Get Free Report) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $36.61, but opened at $39.99. REX American Resources shares last traded at $38.81, with a volume of 39,578 shares traded.

The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.36. The business had revenue of $158.23 million during the quarter, compared to analyst estimates of $163.00 million. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. During the same period in the previous year, the company earned $1.16 EPS.

REX American Resources declared that its board has authorized a share repurchase plan on Wednesday, March 26th that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the energy company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

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

Institutional Trading of REX American Resources

Several hedge funds have recently made changes to their positions in REX. GF Fund Management CO. LTD. acquired a new position in REX American Resources in the fourth quarter valued at $200,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of REX American Resources by 23.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,035 shares of the energy company's stock worth $1,961,000 after purchasing an additional 9,025 shares in the last quarter. State of Wyoming lifted its stake in shares of 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 purchasing an additional 1,454 shares during the period. Systematic Financial Management LP boosted its stake in shares of REX American Resources by 3.5% during the 4th quarter. Systematic Financial Management LP now owns 717,303 shares of the energy company's stock worth $29,904,000 after acquiring an additional 24,377 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of REX American Resources during the 4th quarter worth $991,000. Institutional investors and hedge funds own 88.12% of the company's stock.

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REX American Resources Stock Performance

The firm's 50-day moving average is $39.72 and its 200 day moving average is $42.57. The firm has a market capitalization of $663.40 million, a PE ratio of 9.89 and a beta of 0.92.

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.