Zacks Investment Research upgraded shares of Renewable Energy Group (NASDAQ:REGI) from a sell rating to a hold rating in a research note issued to investors on Thursday, January 4th.
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. “
Several other research firms have also recently issued reports on REGI. Piper Jaffray Companies reiterated a hold rating and issued a $13.00 target price on shares of Renewable Energy Group in a research note on Friday, November 3rd. BidaskClub raised shares of Renewable Energy Group from a sell rating to a hold rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $15.33.
Renewable Energy Group (REGI) opened at $10.90 on Thursday. The firm has a market cap of $425.58, a P/E ratio of -10.00, a PEG ratio of 0.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.72. Renewable Energy Group has a 52-week low of $8.25 and a 52-week high of $13.55.
Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.11. The company had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $513.88 million. Renewable Energy Group had a negative net margin of 1.96% and a positive return on equity of 0.38%. Renewable Energy Group’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. sell-side analysts anticipate that Renewable Energy Group will post -1.63 earnings per share for the current fiscal year.
Renewable Energy Group declared that its board has approved a stock buyback plan on Thursday, December 14th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other Renewable Energy Group news, Director Peter John Martin Harding bought 5,000 shares of Renewable Energy Group stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $11.14 per share, with a total value of $55,700.00. Following the acquisition, the director now owns 64,136 shares in the company, valued at $714,475.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.54% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its holdings in Renewable Energy Group by 3.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 373,523 shares of the oil and gas company’s stock worth $4,408,000 after acquiring an additional 12,102 shares during the last quarter. Thomson Horstmann & Bryant Inc. grew its holdings in Renewable Energy Group by 11.1% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 423,949 shares of the oil and gas company’s stock worth $5,002,000 after acquiring an additional 42,383 shares during the last quarter. DnB Asset Management AS grew its holdings in Renewable Energy Group by 4.7% in the 4th quarter. DnB Asset Management AS now owns 2,626,745 shares of the oil and gas company’s stock worth $30,996,000 after acquiring an additional 118,653 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Renewable Energy Group by 51.7% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 173,170 shares of the oil and gas company’s stock worth $2,104,000 after acquiring an additional 59,012 shares during the last quarter. Finally, Rubric Capital Management LP grew its holdings in Renewable Energy Group by 512.6% in the 3rd quarter. Rubric Capital Management LP now owns 892,068 shares of the oil and gas company’s stock worth $10,839,000 after acquiring an additional 746,444 shares during the last quarter.
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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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