REX American Resources (NYSE:REX) Stock Rating Raised to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of REX American Resources (NYSE:REX) from a buy rating to a strong-buy rating in a research report report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings cut REX American Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

REX American Resources Price Performance

Shares of REX opened at $39.24 on Friday. The firm has a market capitalization of $1.30 billion, a P/E ratio of 10.75 and a beta of 0.60. REX American Resources has a one year low of $31.00 and a one year high of $53.36. The business has a fifty day moving average of $42.05 and a 200 day moving average of $42.34.

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

Insider Transactions at REX American Resources

In other news, insider Stuart Rose sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $42.55, for a total value of $2,127,500.00. Following the sale, the insider directly 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 filing with the SEC, which is available at the SEC website. 13.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On REX American Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in REX American Resources in the second quarter worth about $255,640,000. Bank of New York Mellon Corp purchased a new stake in shares of REX American Resources during the 2nd quarter valued at $8,599,000. AWH Capital L.P. acquired a new position in REX American Resources during the 2nd quarter valued at about $6,659,625. Empowered Funds LLC purchased a new position in shares of REX American Resources in the 2nd quarter valued at approximately $6,016,000. Finally, Bank of America Corp DE purchased a new stake in shares of REX American Resources during the second quarter valued at $5,915,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

About REX American Resources

REX American Resources Corporation is an energy company focused primarily on the production of fuel ethanol and related coproducts. Through its ownership interests in ethanol production facilities, the company produces and markets ethanol, distillers grains used as an animal-feed ingredient, and corn oil, which can be used in animal feed, biodiesel production, and other industrial applications.

REX’s ethanol operations are located in the U.S. Midwest, including facilities and investments in states such as Iowa, Illinois, Nebraska, and Ohio.