Renewable Energy Group, Inc. (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Renewable Energy Group, Inc. produces and sells biofuels and renewable chemicals in the U.S. It operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It produces biomass-based diesel from a range of feedstocks, including inedible corn oil, used cooking oil, soybean oil, canola oil, and inedible animal fat. This segment is also involved in the purchase and resale of biomass-based diesel, petroleum-based diesel, renewable identification numbers, and raw material feedstocks acquired from third parties; and sale of glycerin, free fatty acids, naphtha, and other co-products of the biomass-based diesel production process. The Services segment provides facility management and operational services to biomass-based diesel production facilities, as well as to other clean-tech companies. This segment also offers construction management services for biomass-based diesel production facilities. REG is committed to being a long-term leader in bio-based fuel and chemicals. “
A number of other brokerages have also recently weighed in on REGI. Piper Jaffray Companies set a $13.00 price objective on shares of Renewable Energy Group and gave the stock a “hold” rating in a research note on Saturday, July 22nd. BidaskClub cut shares of Renewable Energy Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine upgraded shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 14th. Roth Capital set a $17.00 price objective on shares of Renewable Energy Group and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Finally, Canaccord Genuity restated a “buy” rating and issued a $16.00 price objective on shares of Renewable Energy Group in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $15.33.
Shares of Renewable Energy Group (NASDAQ:REGI) opened at 12.20 on Thursday. The company’s 50-day moving average is $12.26 and its 200-day moving average is $11.65. Renewable Energy Group has a 12-month low of $8.10 and a 12-month high of $13.55. The firm’s market capitalization is $472.01 million.
Renewable Energy Group (NASDAQ:REGI) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.13). Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. The business had revenue of $535.10 million during the quarter, compared to analyst estimates of $531.88 million. During the same quarter last year, the firm earned $0.18 earnings per share. Renewable Energy Group’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Renewable Energy Group will post ($1.56) earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. C M Bidwell & Associates Ltd. acquired a new stake in shares of Renewable Energy Group in the second quarter worth $110,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Renewable Energy Group by 155.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock worth $123,000 after buying an additional 7,160 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Renewable Energy Group in the second quarter worth $142,000. Federated Investors Inc. PA lifted its stake in shares of Renewable Energy Group by 17.8% in the second quarter. Federated Investors Inc. PA now owns 11,029 shares of the oil and gas company’s stock worth $143,000 after buying an additional 1,668 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Renewable Energy Group in the second quarter worth $152,000.
Renewable Energy Group Company Profile
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services. The Company is a producer of biomass-based diesel in North America. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. It is involved in various activities related to biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities to marketing, selling and distributing biomass-based diesel and its co-products.
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