REX American Resources (NYSE:REX) Shares Down 5.5% – Time to Sell?

REX American Resources Corporation (NYSE:REX)’s share price fell 5.5% during mid-day trading on Friday. The company traded as low as $42.87 and last traded at $42.3810. Approximately 70,472 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 199,542 shares. The stock had previously closed at $44.84.

Analysts Set New Price Targets

A number of equities research analysts have commented on REX shares. Wall Street Zen lowered shares of REX American Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings downgraded shares of REX American Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

REX American Resources Stock Performance

The stock has a 50-day simple moving average of $43.07 and a 200 day simple moving average of $44.85. The stock has a market capitalization of $1.41 billion, a P/E ratio of 11.63 and a beta of 0.60.

REX American Resources (NYSE:REX) last released its earnings results on Wednesday, September 2nd. The energy company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates 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.

Insiders Place Their Bets

In other REX American Resources news, insider Stuart Rose sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider directly owned 2,278,324 shares of the company’s stock, valued at approximately $96,942,686.20. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Legal & General Group Plc bought a new position in shares of REX American Resources in the 2nd quarter worth $2,882,000. Denali Advisors LLC acquired a new stake in shares of REX American Resources during the second quarter worth $1,211,000. Bank of New York Mellon Corp bought a new stake in REX American Resources in the second quarter valued at about $8,599,000. Bank of America Corp DE acquired a new position in REX American Resources in the second quarter valued at about $5,915,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in REX American Resources in the second quarter valued at about $1,518,000. 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.