BidaskClub downgraded shares of Renewable Energy Group (NASDAQ:REGI) from a hold rating to a sell rating in a research note released on Tuesday, January 9th.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Renewable Energy Group from a sell rating to a hold rating in a report on Thursday, September 21st. Piper Jaffray Companies reiterated a hold rating and set a $13.00 price target on shares of Renewable Energy Group in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Renewable Energy Group currently has a consensus rating of Hold and a consensus price target of $15.33.
Shares of Renewable Energy Group (REGI) traded down $0.15 during trading on Tuesday, reaching $10.25. The company’s stock had a trading volume of 560,513 shares, compared to its average volume of 309,716. Renewable Energy Group has a 52-week low of $8.30 and a 52-week high of $13.55. The company has a market cap of $396.56, a P/E ratio of 341.67, a P/E/G ratio of 0.35 and a beta of 1.23. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.37.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, beating the 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 positive return on equity of 0.38% and a negative net margin of 1.96%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. equities research analysts predict that Renewable Energy Group will post -1.63 earnings per share for the current year.
Renewable Energy Group declared that its board has authorized a stock repurchase program on Thursday, December 14th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Renewable Energy Group news, Director Peter John Martin Harding acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $11.14 per share, with a total value of $55,700.00. Following the transaction, the director now owns 64,136 shares of the company’s stock, valued at $714,475.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.54% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. increased its stake in Renewable Energy Group by 15.5% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 156,654 shares of the oil and gas company’s stock valued at $1,902,000 after acquiring an additional 21,041 shares during the period. Alliancebernstein L.P. grew its stake in shares of Renewable Energy Group by 249.4% in the 2nd quarter. Alliancebernstein L.P. now owns 84,550 shares of the oil and gas company’s stock valued at $1,095,000 after purchasing an additional 60,350 shares during the period. California Public Employees Retirement System grew its stake in shares of Renewable Energy Group by 4.4% in the 3rd quarter. California Public Employees Retirement System now owns 509,967 shares of the oil and gas company’s stock valued at $6,196,000 after purchasing an additional 21,700 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Renewable Energy Group by 12.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 167,528 shares of the oil and gas company’s stock valued at $2,035,000 after purchasing an additional 19,165 shares during the period. Finally, Bank of Nova Scotia bought a new stake in shares of Renewable Energy Group in the 2nd quarter valued at approximately $1,092,000.
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About Renewable Energy Group
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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