Truist Financial Issues Pessimistic Forecast for REX American Resources (NYSE:REX) Stock Price

REX American Resources (NYSE:REX) had its price target dropped by stock analysts at Truist Financial from $60.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s target price would suggest a potential upside of 32.63% from the company’s current price.

REX American Resources Trading Up 1.7 %

Shares of NYSE:REX traded up $0.68 during midday trading on Monday, hitting $41.47. The stock had a trading volume of 11,512 shares, compared to its average volume of 149,793. REX American Resources has a 1 year low of $39.39 and a 1 year high of $60.78. The stock has a 50 day moving average price of $45.24 and a two-hundred day moving average price of $45.87. The company has a market capitalization of $728.63 million, a PE ratio of 10.86 and a beta of 0.90.

REX American Resources (NYSE:REX) last released its quarterly earnings data on Tuesday, December 3rd. The energy company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.66. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. During the same period in the prior year, the company posted $1.49 earnings per share. As a group, equities analysts expect that REX American Resources will post 2.6 EPS for the current year.

Hedge Funds Weigh In On REX American Resources

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in REX American Resources by 15.9% during the third quarter. Victory Capital Management Inc. now owns 83,095 shares of the energy company’s stock worth $3,846,000 after acquiring an additional 11,386 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of REX American Resources by 0.6% during the third quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock worth $3,640,000 after purchasing an additional 432 shares in the last quarter. Millennium Management LLC lifted its position in REX American Resources by 61.4% during the 2nd quarter. Millennium Management LLC now owns 102,893 shares of the energy company’s stock worth $4,691,000 after acquiring an additional 39,126 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in REX American Resources in the 3rd quarter worth approximately $1,062,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of REX American Resources by 254.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 240,597 shares of the energy company’s stock valued at $11,137,000 after purchasing an additional 172,780 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

About REX American Resources

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.