Trecora Resources (TREC) Receives Average Rating of “Strong Buy” from Brokerages
Shares of Trecora Resources (NYSE:TREC) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price objective of $17.00 for the company and are predicting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given Trecora Resources an industry rank of 68 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently weighed in on TREC. B. Riley restated a “buy” rating and issued a $18.00 target price on shares of Trecora Resources in a research note on Tuesday, August 9th. TheStreet upgraded Trecora Resources from a “hold” rating to a “buy” rating in a research report on Friday, July 15th. Finally, Zacks Investment Research lowered Trecora Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th.
A number of institutional investors have recently modified their holdings of TREC. GSA Capital Partners LLP bought a new position in shares of Trecora Resources during the second quarter worth about $145,000. Spark Investment Management LLC boosted 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 period. BlackRock Investment Management LLC boosted 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 period. Geode Capital Management LLC boosted 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 period. Finally, Renaissance Technologies LLC boosted 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 period. Hedge funds and other institutional investors own 33.61% of the company’s stock.
Trecora Resources (NYSE:TREC) opened at 10.49 on Monday. The firm has a market cap of $253.91 million, a P/E ratio of 10.19 and a beta of 1.35. The stock has a 50 day moving average price of $10.91 and a 200-day moving average price of $10.81. Trecora Resources has a one year low of $8.17 and a one year high of $14.96.
Trecora Resources (NYSE:TREC) last announced its earnings results on Thursday, August 4th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.31. Trecora Resources had a return on equity of 11.37% and a net margin of 11.27%. The company earned $48.90 million during the quarter, compared to analyst estimates of $55.59 million. Analysts predict that Trecora Resources will post $1.15 EPS for the current fiscal 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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