Wall Street Zen Downgrades REX American Resources (NYSE:REX) to Buy

REX American Resources (NYSE:REX) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of REX American Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

REX American Resources Trading Up 0.2%

Shares of REX stock opened at $43.46 on Friday. The company has a market cap of $1.44 billion, a PE ratio of 11.91 and a beta of 0.60. The company’s fifty day simple moving average is $42.98 and its 200-day simple moving average is $44.74. REX American Resources has a 52 week low of $30.31 and a 52 week high of $53.36.

REX American Resources (NYSE:REX) last issued its quarterly earnings data on Wednesday, September 2nd. The energy company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.64. REX American Resources had a return on equity of 16.90% and a net margin of 18.31%.The company had revenue of $168.49 million for the quarter, compared to analysts’ expectations of $194.81 million.

Insider Activity

In other news, insider Stuart Rose sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $42.55, for a total transaction of $2,127,500.00. Following the completion of the transaction, the insider directly owned 2,278,324 shares in the company, valued at approximately $96,942,686.20. This represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.21% of the stock is currently owned by insiders.

Institutional Trading of REX American Resources

Several institutional investors have recently added to or reduced their stakes in REX. BlackRock Inc. acquired a new position in REX American Resources during the 2nd quarter worth $255,640,000. Mangrove Partners IM LLC lifted its position in shares of REX American Resources by 92.8% during the fourth quarter. Mangrove Partners IM LLC now owns 1,015,234 shares of the energy company’s stock worth $32,812,000 after purchasing an additional 488,682 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in REX American Resources by 6.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 447,642 shares of the energy company’s stock worth $20,399,000 after purchasing an additional 26,989 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in REX American Resources in the second quarter valued at about $8,599,000. Finally, Empowered Funds LLC increased its holdings in REX American Resources by 5.0% in the first quarter. Empowered Funds LLC now owns 164,164 shares of the energy company’s stock valued at $7,481,000 after buying an additional 7,784 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

About REX American Resources

REX American Resources Corporation is an ethanol production and investment company headquartered in Dayton, Ohio. Through its subsidiaries and equity investments, the company has interests in ethanol production facilities located primarily in the U.S. Midwest.

REX’s principal products include fuel-grade ethanol, distillers grains and corn oil. Ethanol is produced from corn and sold for use as a renewable fuel and gasoline-blending component, while distillers grains and corn oil are marketed primarily for use in animal feed and other industrial applications.

The company’s operations and investments have included facilities in states such as Illinois, Iowa and Minnesota.