REX American Resources (NYSE:REX) Sets New 1-Year Low – Here’s Why

REX American Resources Co. (NYSE:REX)’s share price reached a new 52-week low on Friday . The stock traded as low as $34.19 and last traded at $34.45, with a volume of 14631 shares traded. The stock had previously closed at $36.29.

Wall Street Analysts Forecast Growth

Separately, Truist Financial restated a “buy” rating and set a $50.00 price target (down previously from $55.00) on shares of REX American Resources in a report on Thursday, March 27th.

REX American Resources Stock Down 0.9 %

The firm has a market cap of $631.88 million, a price-to-earnings ratio of 9.42 and a beta of 0.92. The company has a 50-day moving average price of $39.31 and a 200 day moving average price of $42.34.

REX American Resources (NYSE:REX) last released its 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. The company had revenue of $158.23 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $1.16 EPS. Equities analysts forecast that REX American Resources Co. will post 2.93 EPS for the current year.

REX American Resources announced that its board has initiated a share repurchase program on Wednesday, March 26th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the energy company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On REX American Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. boosted its position in REX American Resources by 9.7% during the fourth quarter. Brown Advisory Inc. now owns 682,563 shares of the energy company’s stock valued at $28,456,000 after purchasing an additional 60,600 shares during the last quarter. American Century Companies Inc. raised its stake 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 purchasing an additional 51,945 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of REX American Resources by 382.0% during 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 buying an additional 47,180 shares during the last quarter. Trexquant Investment LP grew its stake in shares of REX American Resources by 177.4% in the 4th quarter. Trexquant Investment LP now owns 71,037 shares of the energy company’s stock valued at $2,962,000 after buying an additional 45,425 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of REX American Resources in the 4th quarter valued at approximately $1,734,000. 88.12% of the stock is currently owned by hedge funds and other 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.