REX American Resources (NYSE:REX) Sets New 12-Month High Following Better-Than-Expected Earnings

REX American Resources Corporation (NYSE:REX) shares hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $36.37 and last traded at $34.3850, with a volume of 37702 shares traded. The stock had previously closed at $33.50.

The energy company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.45. The firm had revenue of $175.63 million during the quarter, compared to analyst estimates of $169.00 million. REX American Resources had a net margin of 7.73% and a return on equity of 7.89%. During the same period in the previous year, the firm earned $1.38 earnings per share.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of REX American Resources in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC purchased a new stake in shares of REX American Resources in the 2nd quarter worth approximately $33,000. GAMMA Investing LLC raised its stake in REX American Resources by 116.5% in the third quarter. GAMMA Investing LLC now owns 1,078 shares of the energy company’s stock worth $33,000 after buying an additional 580 shares in the last quarter. Parallel Advisors LLC lifted its holdings in REX American Resources by 97.6% during the third quarter. Parallel Advisors LLC now owns 1,142 shares of the energy company’s stock worth $35,000 after buying an additional 564 shares during the period. AlphaQuest LLC purchased a new stake in REX American Resources during the second quarter worth $58,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in REX American Resources by 59.2% during the third quarter. Ameritas Investment Partners Inc. now owns 2,476 shares of the energy company’s stock worth $76,000 after buying an additional 921 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

REX American Resources Trading Down 3.9%

The firm has a 50-day simple moving average of $32.20 and a 200-day simple moving average of $28.51. The firm has a market cap of $1.11 billion, a P/E ratio of 22.54 and a beta of 0.73.

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.