REX American Resources (NYSE:REX) to Buyback 1,500,000 Shares

REX American Resources (NYSE:REX) declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 26th, RTT News reports. The company plans to repurchase 1,500,000 shares. This repurchase authorization authorizes the energy company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their price target on shares of REX American Resources from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, December 9th.

REX American Resources Trading Up 5.4 %

Shares of NYSE REX traded up $1.97 during trading hours on Wednesday, reaching $38.58. The stock had a trading volume of 198,566 shares, compared to its average volume of 151,886. The firm has a 50-day moving average of $39.85 and a 200-day moving average of $42.62. The firm has a market cap of $677.81 million, a price-to-earnings ratio of 10.10 and a beta of 0.92. REX American Resources has a fifty-two week low of $35.40 and a fifty-two week high of $60.79.

REX American Resources (NYSE:REX) last posted its quarterly earnings data on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.36. The business had revenue of $158.23 million during the quarter, compared to the consensus estimate of $163.00 million. 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 earned $1.16 earnings per share. On average, equities analysts predict that REX American Resources will post 2.93 EPS for the current year.

REX American Resources Company Profile

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.