Trecora Resources (NYSE:TREC) Expected to Post Quarterly Sales of $64.72 Million

Wall Street brokerages predict that Trecora Resources (NYSE:TREC) will announce sales of $64.72 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Trecora Resources’ earnings. The lowest sales estimate is $62.85 million and the highest is $66.60 million. Trecora Resources posted sales of $57.14 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The company is expected to report its next quarterly earnings report on Thursday, November 2nd.

On average, analysts expect that Trecora Resources will report full year sales of $64.72 million for the current financial year, with estimates ranging from $236.27 million to $245.40 million. For the next financial year, analysts forecast that the company will report sales of $263.68 million per share, with estimates ranging from $250.86 million to $276.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Trecora Resources.

Trecora Resources (NYSE:TREC) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.04. Trecora Resources had a return on equity of 3.95% and a net margin of 0.97%. The business had revenue of $62.12 million during the quarter, compared to analysts’ expectations of $56.68 million.

A number of research analysts recently commented on TREC shares. Zacks Investment Research cut Trecora Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Singular Research decreased their price objective on Trecora Resources from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 27th. TheStreet upgraded Trecora Resources from a “c” rating to a “b-” rating in a report on Monday, July 17th. B. Riley reiterated a “buy” rating and issued a $17.50 price objective on shares of Trecora Resources in a report on Monday, May 8th. Finally, BidaskClub cut Trecora Resources from a “sell” rating to a “strong sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Trecora Resources currently has an average rating of “Hold” and an average target price of $15.00.

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In related news, VP Mark D. Williamson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $10.90, for a total value of $109,000.00. Following the transaction, the vice president now directly owns 24,277 shares in the company, valued at $264,619.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela R. Butcher acquired 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average price of $11.31 per share, for a total transaction of $31,102.50. Following the completion of the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $28,275. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TREC. Wellington Management Group LLP raised its stake in shares of Trecora Resources by 8.5% in the first quarter. Wellington Management Group LLP now owns 2,873,014 shares of the basic materials company’s stock worth $31,890,000 after buying an additional 225,893 shares during the last quarter. Balter Liquid Alternatives LLC raised its stake in shares of Trecora Resources by 131.7% in the first quarter. Balter Liquid Alternatives LLC now owns 94,454 shares of the basic materials company’s stock worth $1,048,000 after buying an additional 53,683 shares during the last quarter. Friedberg Investment Management purchased a new stake in shares of Trecora Resources during the first quarter worth about $488,000. Ironwood Investment Management LLC purchased a new stake in shares of Trecora Resources during the second quarter worth about $375,000. Finally, Renaissance Technologies LLC raised its stake in shares of Trecora Resources by 12.7% in the first quarter. Renaissance Technologies LLC now owns 249,500 shares of the basic materials company’s stock worth $2,769,000 after buying an additional 28,100 shares during the last quarter. 35.79% of the stock is currently owned by institutional investors.

Shares of Trecora Resources (NYSE:TREC) opened at 12.30 on Wednesday. The stock has a market capitalization of $298.30 million, a P/E ratio of 22.40 and a beta of 1.56. Trecora Resources has a one year low of $9.75 and a one year high of $14.80. The stock has a 50 day moving average price of $11.48 and a 200 day moving average price of $11.55.

About Trecora Resources

Trecora Resources is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services. The Company operates through two segments: manufacturing of various specialty petrochemical products and manufacturing of specialty synthetic waxes. The specialty petrochemical products segment operates through South Hampton Resources, Inc (SHR).

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