Trecora Resources (NYSE:TREC) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Trecora Resources (NYSE:TREC) from a sell rating to a strong sell rating in a report issued on Saturday morning.
A number of other brokerages also recently commented on TREC. TheStreet upgraded Trecora Resources from a c rating to a b- rating in a research report on Monday, July 17th. Singular Research dropped their target price on Trecora Resources from $18.00 to $16.00 and set a buy rating for the company in a report on Thursday, April 27th. Zacks Investment Research raised Trecora Resources from a hold rating to a buy rating and set a $13.00 target price for the company in a report on Wednesday, July 5th. Finally, B. Riley reissued a buy rating and issued a $17.50 target price on shares of Trecora Resources in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Trecora Resources presently has an average rating of Hold and a consensus price target of $15.13.
Shares of Trecora Resources (NYSE:TREC) traded up 13.62% during midday trading on Friday, hitting $12.10. The stock had a trading volume of 110,844 shares. The firm has a 50-day moving average of $11.49 and a 200 day moving average of $11.56. The firm has a market cap of $293.45 million, a PE ratio of 22.04 and a beta of 1.56. Trecora Resources has a 12-month low of $9.75 and a 12-month high of $14.80.
Trecora Resources (NYSE:TREC) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.04. Trecora Resources had a return on equity of 3.95% and a net margin of 0.97%. The firm had revenue of $62.12 million during the quarter, compared to the consensus estimate of $56.68 million. On average, analysts expect that Trecora Resources will post $0.44 earnings per share for the current year.
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In other news, VP Mark D. Williamson sold 10,000 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $10.90, for a total value of $109,000.00. Following the completion of the transaction, the vice president now directly owns 24,277 shares of the company’s stock, valued at approximately $264,619.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Simon H. Upfill-Brown bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was bought at an average cost of $11.31 per share, with a total value of $56,550.00. Following the completion of the acquisition, the chief executive officer now owns 68,322 shares in the company, valued at approximately $772,721.82. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. TFS Capital LLC bought a new position in shares of Trecora Resources during the first quarter worth about $113,000. American International Group Inc. boosted its position in shares of Trecora Resources by 7.1% in the first quarter. American International Group Inc. now owns 12,221 shares of the basic materials company’s stock worth $136,000 after buying an additional 813 shares during the last quarter. Legion Partners Asset Management LLC bought a new position in shares of Trecora Resources during the first quarter worth about $157,000. Rhumbline Advisers boosted its position in shares of Trecora Resources by 7.7% in the second quarter. Rhumbline Advisers now owns 24,132 shares of the basic materials company’s stock worth $271,000 after buying an additional 1,735 shares during the last quarter. Finally, Oxford Asset Management boosted its stake in Trecora Resources by 120.2% in the first quarter. Oxford Asset Management now owns 25,459 shares of the basic materials company’s stock worth $283,000 after buying an additional 13,897 shares in the last quarter. 35.65% of the stock is owned by institutional investors and hedge funds.
About Trecora Resources
Trecora Resources 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. The specialty petrochemical products segment operates through South Hampton Resources, Inc (SHR).
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