Brokerages expect Trecora Resources (NYSE:TREC) to announce $60.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Trecora Resources’ earnings. The highest sales estimate is $61.33 million and the lowest is $59.10 million. Trecora Resources posted sales of $54.20 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The business is expected to announce its next quarterly earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Trecora Resources will report full year sales of $60.22 million for the current fiscal year, with estimates ranging from $238.30 million to $240.49 million. For the next fiscal year, analysts forecast that the business will report sales of $266.38 million per share, with estimates ranging from $261.56 million to $271.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Trecora Resources.
Several brokerages have recently commented on TREC. B. Riley restated a “buy” rating and issued a $17.50 price objective on shares of Trecora Resources in a research report on Wednesday, August 2nd. TheStreet upgraded Trecora Resources from a “c” rating to a “b-” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded Trecora Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, BidaskClub cut Trecora Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Trecora Resources currently has an average rating of “Hold” and an average price target of $14.75.
In other news, major shareholder Athel Fahad Mohammed Saleh Al sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $13.33, for a total transaction of $93,310.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 715,932 shares of company stock worth $9,034,411. Insiders own 6.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of Trecora Resources by 17.4% in the third quarter. Wells Fargo & Company MN now owns 39,319 shares of the basic materials company’s stock valued at $523,000 after purchasing an additional 5,839 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Trecora Resources by 23.6% in the third quarter. Bank of New York Mellon Corp now owns 176,834 shares of the basic materials company’s stock valued at $2,352,000 after purchasing an additional 33,774 shares during the period. Monarch Partners Asset Management LLC purchased a new stake in shares of Trecora Resources in the third quarter valued at approximately $508,000. Ironwood Investment Management LLC boosted its holdings in shares of Trecora Resources by 22.0% in the third quarter. Ironwood Investment Management LLC now owns 40,722 shares of the basic materials company’s stock valued at $542,000 after purchasing an additional 7,354 shares during the period. Finally, First Quadrant L P CA purchased a new stake in shares of Trecora Resources in the third quarter valued at approximately $207,000. 41.61% of the stock is currently owned by hedge funds and other institutional investors.
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Trecora Resources (NYSE TREC) traded up $0.05 during midday trading on Friday, reaching $11.60. The company had a trading volume of 95,900 shares, compared to its average volume of 46,837. The stock has a market capitalization of $290.46, a P/E ratio of 46.20 and a beta of 1.48. The company has a quick ratio of 1.21, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. Trecora Resources has a 12 month low of $10.13 and a 12 month high of $14.80.
About Trecora Resources
Trecora Resources (TREC) is a provider of high-purity specialty hydrocarbons and waxes. TREC owns and operates a facility located in southeast Texas, just north of Beaumont, which specializes in high-purity hydrocarbons and other petrochemical manufacturing. The Company operates through two segments: specialty petrochemical products and specialty synthetic waxes.
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