REX American Resources (NYSE:REX) Stock Bumped Down to Buy by Wall Street Zen

Wall Street Zen cut shares of REX American Resources (NYSE:REX) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of REX American Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

REX American Resources Stock Down 0.7%

Shares of NYSE REX opened at $43.46 on Friday. The firm has a 50-day simple moving average of $42.98 and a 200-day simple moving average of $44.71. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 11.91 and a beta of 0.60. REX American Resources has a 52 week low of $30.31 and a 52 week high of $53.36.

REX American Resources (NYSE:REX) last posted its quarterly earnings results on Wednesday, September 2nd. The energy company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.64. The firm had revenue of $168.49 million for the quarter, compared to the consensus estimate of $194.81 million. REX American Resources had a net margin of 18.31% and a return on equity of 16.90%.

Insider Activity

In other news, insider Stuart Rose sold 50,000 shares of REX American Resources stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $42.55, for a total transaction of $2,127,500.00. Following the transaction, the insider owned 2,278,324 shares in the company, valued at $96,942,686.20. The trade was a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On REX American Resources

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of REX American Resources during the 2nd quarter worth about $255,640,000. Mangrove Partners IM LLC lifted its position in REX American Resources by 92.8% in the fourth quarter. Mangrove Partners IM LLC now owns 1,015,234 shares of the energy company’s stock valued at $32,812,000 after buying an additional 488,682 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in REX American Resources during the second quarter worth about $8,599,000. AWH Capital L.P. purchased a new position in REX American Resources during the second quarter worth about $6,659,625. Finally, Empowered Funds LLC acquired a new stake in shares of REX American Resources during the second quarter valued at about $6,016,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

About REX American Resources

REX American Resources Corporation is an ethanol production and investment company headquartered in Dayton, Ohio. Through its subsidiaries and equity investments, the company has interests in ethanol production facilities located primarily in the U.S. Midwest.

REX’s principal products include fuel-grade ethanol, distillers grains and corn oil. Ethanol is produced from corn and sold for use as a renewable fuel and gasoline-blending component, while distillers grains and corn oil are marketed primarily for use in animal feed and other industrial applications.

The company’s operations and investments have included facilities in states such as Illinois, Iowa and Minnesota.