Equities analysts forecast that Trecora Resources (NYSE:TREC) will report sales of $60.22 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Trecora Resources’ earnings. The lowest sales estimate is $59.10 million and the highest is $61.33 million. Trecora Resources reported sales of $54.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The firm is expected to report its next quarterly earnings results on Wednesday, March 7th.
On average, analysts expect that Trecora Resources will report full-year sales of $60.22 million for the current fiscal year, with estimates ranging from $238.30 million to $240.49 million. For the next financial year, analysts anticipate that the company will post sales of $266.38 million per share, with estimates ranging from $261.56 million to $271.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Trecora Resources.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Trecora Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. TheStreet downgraded shares of Trecora Resources from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Finally, B. Riley reaffirmed a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of Trecora Resources in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.75.
In other Trecora Resources news, major shareholder Athel Fahad Mohammed Saleh Al sold 6,734 shares of Trecora Resources stock in a transaction on Monday, October 9th. The shares were sold at an average price of $12.75, for a total transaction of $85,858.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 279,596 shares of company stock worth $3,500,770 over the last ninety days. Insiders own 6.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. raised its stake in shares of Trecora Resources by 576.4% during the 2nd quarter. Citigroup Inc. now owns 9,185 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 7,827 shares during the period. Alliancebernstein L.P. bought a new stake in shares of Trecora Resources during the 2nd quarter worth $147,000. The Manufacturers Life Insurance Company raised its stake in shares of Trecora Resources by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,248 shares of the basic materials company’s stock worth $183,000 after purchasing an additional 54 shares during the period. First Quadrant L P CA bought a new stake in shares of Trecora Resources during the 3rd quarter worth $207,000. Finally, Rhumbline Advisers raised its stake in shares of Trecora Resources by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 24,132 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 1,735 shares during the period. Institutional investors own 42.73% of the company’s stock.
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About Trecora Resources
Trecora Resources (TREC) is a provider of high-purity specialty hydrocarbons and waxes. TREC owns and operates a facility located in southeast Texas, just north of Beaumont, which specializes in high-purity hydrocarbons and other petrochemical manufacturing. The Company operates through two segments: specialty petrochemical products and specialty synthetic waxes.
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