Pacific Ethanol (NASDAQ:PEIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Pacific Ethanol, Inc. is currently in the business of marketing ethanol in the Western United States through Kinergy Marketing, a wholly-owned subsidiary of the Company and the largest West Coast-based marketer of renewable fuels. The Company intends, in the near future, to construct an ethanol production facility at its Madera County, California, site. “
A number of other brokerages also recently weighed in on PEIX. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Pacific Ethanol in a report on Thursday, November 9th. B. Riley began coverage on Pacific Ethanol in a report on Tuesday, November 28th. They issued a “buy” rating and a $7.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Pacific Ethanol presently has an average rating of “Buy” and a consensus target price of $10.20.
Shares of Pacific Ethanol (NASDAQ PEIX) opened at $4.60 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.56. Pacific Ethanol has a twelve month low of $4.10 and a twelve month high of $9.35. The stock has a market capitalization of $202.27, a P/E ratio of -20.00, a price-to-earnings-growth ratio of 0.46 and a beta of 2.06.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. Pacific Ethanol had a negative return on equity of 2.13% and a negative net margin of 0.51%. The company had revenue of $445.40 million for the quarter, compared to the consensus estimate of $434.57 million. During the same period in the previous year, the business earned ($0.09) EPS. Pacific Ethanol’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities analysts anticipate that Pacific Ethanol will post -0.58 earnings per share for the current fiscal year.
In other news, Director William L. Jones sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $4.30, for a total value of $86,000.00. Following the completion of the sale, the director now directly owns 56,903 shares in the company, valued at approximately $244,682.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.87% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. DnB Asset Management AS boosted its position in Pacific Ethanol by 2.1% during the 4th quarter. DnB Asset Management AS now owns 3,016,598 shares of the oil and gas company’s stock valued at $13,726,000 after purchasing an additional 63,415 shares during the period. Dimensional Fund Advisors LP boosted its position in Pacific Ethanol by 20.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,629,229 shares of the oil and gas company’s stock valued at $14,592,000 after purchasing an additional 450,851 shares during the period. Boston Partners boosted its position in Pacific Ethanol by 55.6% during the 3rd quarter. Boston Partners now owns 2,561,600 shares of the oil and gas company’s stock valued at $14,217,000 after purchasing an additional 915,830 shares during the period. HighTower Advisors LLC boosted its position in Pacific Ethanol by 9.6% during the 2nd quarter. HighTower Advisors LLC now owns 1,820,929 shares of the oil and gas company’s stock valued at $11,389,000 after purchasing an additional 160,107 shares during the period. Finally, Vanguard Group Inc. boosted its position in Pacific Ethanol by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,653,951 shares of the oil and gas company’s stock valued at $10,337,000 after purchasing an additional 113,819 shares during the period. Institutional investors and hedge funds own 80.54% of the company’s stock.
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Pacific Ethanol Company Profile
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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