Wall Street analysts expect that Trecora Resources (NYSE:TREC) will report sales of $60.22 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Trecora Resources’ earnings, with estimates ranging from $59.10 million to $61.33 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 scheduled 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 expect that the company 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 a mean average based on a survey of sell-side research firms that that provide coverage for Trecora Resources.
TREC has been the subject of a number of research analyst reports. Zacks Investment Research raised Trecora Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. TheStreet downgraded Trecora Resources from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Finally, B. Riley restated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of Trecora Resources in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Trecora Resources has a consensus rating of “Hold” and an average target price of $14.75.
In other Trecora Resources news, major shareholder Athel Fahad Mohammed Saleh Al sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $12.71, for a total value of $254,200.00. Following the sale, the insider now directly owns 3,857,044 shares in the company, valued at $49,023,029.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 514,712 shares of company stock worth $6,533,790. 6.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TREC. Citigroup Inc. boosted its position in Trecora Resources by 576.4% during the 2nd quarter. Citigroup Inc. now owns 9,185 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 7,827 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Trecora Resources in the 2nd quarter valued at about $147,000. First Quadrant L P CA acquired a new stake in Trecora Resources during the third quarter worth about $207,000. The Manufacturers Life Insurance Company raised its stake in Trecora Resources by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 16,248 shares of the basic materials company’s stock worth $183,000 after acquiring an additional 54 shares during the period. Finally, Rhumbline Advisers raised its stake in Trecora Resources by 7.7% during the second quarter. Rhumbline Advisers now owns 24,132 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 1,735 shares during the period. 42.73% of the stock is owned by institutional investors.
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Trecora Resources Company Profile
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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