REX American Resources (NYSE:REX) Price Target Cut to $60.00

REX American Resources (NYSE:REX) had its target price decreased by Truist Financial from $65.00 to $60.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

Separately, StockNews.com downgraded shares of REX American Resources from a buy rating to a hold rating in a research note on Thursday, May 23rd.

REX American Resources Price Performance

Shares of REX American Resources stock opened at $45.33 on Tuesday. REX American Resources has a fifty-two week low of $35.73 and a fifty-two week high of $60.78. The firm has a market capitalization of $793.46 million, a P/E ratio of 12.09 and a beta of 0.96. The company’s 50 day moving average price is $45.94 and its two-hundred day moving average price is $48.99.

REX American Resources (NYSE:REX) last issued its quarterly earnings results on Tuesday, August 27th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $148.16 million for the quarter, compared to analyst estimates of $146.00 million. REX American Resources had a net margin of 8.43% and a return on equity of 11.53%. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, analysts expect that REX American Resources will post 1.79 earnings per share for the current year.

Institutional Investors Weigh In On REX American Resources

Several hedge funds and other institutional investors have recently made changes to their positions in REX. AJOVista LLC purchased a new position in REX American Resources during the fourth quarter worth about $29,000. CWM LLC boosted its holdings in REX American Resources by 1,944.1% during the second quarter. CWM LLC now owns 1,206 shares of the energy company’s stock worth $55,000 after purchasing an additional 1,147 shares during the last quarter. EntryPoint Capital LLC purchased a new position in REX American Resources during the first quarter worth about $133,000. SG Americas Securities LLC purchased a new position in REX American Resources during the first quarter worth about $139,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in REX American Resources by 163.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,554 shares of the energy company’s stock worth $150,000 after purchasing an additional 1,583 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

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.