REX American Resources’ (REX) “Buy” Rating Reiterated at Truist Financial

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

REX American Resources Stock Performance

REX American Resources stock opened at $37.76 on Thursday. The company’s 50 day simple moving average is $39.72 and its 200-day simple moving average is $42.57. REX American Resources has a 1 year low of $35.40 and a 1 year high of $60.79. The company has a market capitalization of $663.40 million, a price-to-earnings ratio of 9.89 and a beta of 0.92.

REX American Resources (NYSE:REX) last released its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.36. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The company 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 earnings per share. Equities analysts expect that REX American Resources will post 2.93 earnings per share for the current year.

REX American Resources announced that its board has initiated 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 purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On REX American Resources

Several institutional investors have recently modified their holdings of REX. Hotchkis & Wiley Capital Management LLC increased its position in shares of REX American Resources by 254.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 240,597 shares of the energy company’s stock valued at $11,137,000 after purchasing an additional 172,780 shares during the last quarter. Brown Advisory Inc. raised its stake in REX American Resources by 9.7% in the fourth quarter. Brown Advisory Inc. now owns 682,563 shares of the energy company’s stock valued at $28,456,000 after buying an additional 60,600 shares in the last quarter. Systematic Financial Management LP lifted its holdings in REX American Resources by 8.3% during the 3rd quarter. Systematic Financial Management LP now owns 692,926 shares of the energy company’s stock worth $32,076,000 after buying an additional 52,891 shares during the last quarter. American Century Companies Inc. boosted its position in shares of REX American Resources by 14.1% during the 4th quarter. American Century Companies Inc. now owns 421,621 shares of the energy company’s stock worth $17,577,000 after acquiring an additional 51,945 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its holdings in shares of REX American Resources by 382.0% in the 4th quarter. Brandywine Global Investment Management LLC now owns 59,530 shares of the energy company’s stock valued at $2,482,000 after acquiring an additional 47,180 shares during 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.