REX American Resources (NYSE:REX) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered 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 morning,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 research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

REX American Resources Price Performance

Shares of REX opened at $43.45 on Friday. REX American Resources has a 1 year low of $30.31 and a 1 year high of $53.36. The stock’s fifty day moving average price is $42.97 and its two-hundred day moving average price is $44.76. The firm has a market cap of $1.44 billion, a PE ratio of 11.90 and a beta of 0.60.

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. REX American Resources had a return on equity of 16.90% and a net margin of 18.31%.The company had revenue of $168.49 million during the quarter, compared to the consensus estimate of $194.81 million.

Insider Activity at REX American Resources

In other news, insider Stuart Rose sold 50,000 shares of the company’s stock in a transaction on 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 transaction, the insider owned 2,278,324 shares of the company’s stock, valued at approximately $96,942,686.20. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On REX American Resources

Several large investors have recently added to or reduced their stakes in REX. BlackRock Inc. bought a new position in REX American Resources in the 2nd quarter worth about $255,640,000. Mangrove Partners IM LLC boosted its position in shares of REX American Resources by 92.8% during the 4th quarter. Mangrove Partners IM LLC now owns 1,015,234 shares of the energy company’s stock valued at $32,812,000 after acquiring an additional 488,682 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of REX American Resources by 6.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 447,642 shares of the energy company’s stock valued at $20,399,000 after acquiring an additional 26,989 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of REX American Resources during the second quarter worth about $8,599,000. Finally, Empowered Funds LLC grew its holdings in shares of REX American Resources by 5.0% during the first quarter. Empowered Funds LLC now owns 164,164 shares of the energy company’s stock worth $7,481,000 after purchasing an additional 7,784 shares in the last quarter. 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.