Analysts Set $17.00 Price Target for Trecora Resources (NYSE:TREC)
Shares of Trecora Resources (NYSE:TREC) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a one year consensus price target of $17.00 for the company and are anticipating that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also assigned Trecora Resources an industry rank of 75 out of 265 based on the ratings given to its competitors.
A number of brokerages recently commented on TREC. B. Riley reaffirmed a “buy” rating and issued a $18.00 target price on shares of Trecora Resources in a research report on Tuesday, August 9th. TheStreet raised Trecora Resources from a “hold” rating to a “buy” rating in a report on Friday, July 15th. Finally, Zacks Investment Research lowered Trecora Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th.
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Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Trecora Resources during the second quarter worth $145,000. Spark Investment Management LLC increased its position in shares of Trecora Resources by 105.3% in the first quarter. Spark Investment Management LLC now owns 50,500 shares of the company’s stock worth $485,000 after buying an additional 25,900 shares during the last quarter. BlackRock Investment Management LLC increased its position in shares of Trecora Resources by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 77,255 shares of the company’s stock worth $806,000 after buying an additional 4,967 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Trecora Resources by 1.0% in the first quarter. Geode Capital Management LLC now owns 123,848 shares of the company’s stock worth $1,191,000 after buying an additional 1,191 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Trecora Resources by 26.6% in the first quarter. Renaissance Technologies LLC now owns 172,600 shares of the company’s stock worth $1,660,000 after buying an additional 36,300 shares during the last quarter. 33.61% of the stock is owned by hedge funds and other institutional investors.
Trecora Resources (NYSE:TREC) traded up 1.94% during mid-day trading on Monday, hitting $11.02. The stock had a trading volume of 3,126 shares. The stock has a market cap of $266.74 million, a PE ratio of 10.71 and a beta of 1.35. The firm’s 50-day moving average price is $10.94 and its 200-day moving average price is $10.79. Trecora Resources has a 1-year low of $8.17 and a 1-year high of $14.86.
Trecora Resources (NYSE:TREC) last issued its earnings results on Thursday, August 4th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.31. Trecora Resources had a return on equity of 11.37% and a net margin of 11.27%. The business earned $48.90 million during the quarter, compared to analyst estimates of $55.59 million. On average, equities analysts expect that Trecora Resources will post $1.15 earnings per share for the current year.
About Trecora Resources
Trecora Resources, formerly Arabian American Development Company, is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services. The Company operates through two segments: manufacturing of various specialty petrochemical products and manufacturing of specialty synthetic waxes.
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