REX American Resources (NYSE:REX) Shares Gap Up on Better-Than-Expected Earnings

Shares of REX American Resources Co. (NYSE:REX) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. 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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $158.23 million during the quarter, compared to analyst estimates of $163.00 million. During the same period last year, the business posted $1.16 earnings per share.

REX American Resources declared that its board has initiated a share buyback plan on Wednesday, March 26th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the energy company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their price target on REX American Resources from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, December 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of REX American Resources by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock valued at $3,640,000 after purchasing an additional 432 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in REX American Resources during the fourth quarter worth approximately $890,000. HighTower Advisors LLC acquired a new stake in REX American Resources during the 3rd quarter worth $246,000. Finally, FMR LLC raised its holdings in shares of REX American Resources by 34.8% in the third quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after buying an additional 605 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

REX American Resources Stock Up 5.4 %

The stock has a fifty day moving average of $39.85 and a 200-day moving average of $42.62. The stock has a market cap of $677.81 million, a PE ratio of 10.10 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.