Renewable Energy Group (NASDAQ:REGI) had its price target lifted by Canaccord Genuity from $16.00 to $20.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the oil and gas company’s stock. Canaccord Genuity’s target price suggests a potential upside of 12.68% from the company’s current price.
A number of other research analysts have also recently commented on the company. BidaskClub upgraded Renewable Energy Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 20th. ValuEngine cut Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, March 14th. Finally, Roth Capital set a $21.00 price target on Renewable Energy Group and gave the stock a “buy” rating in a research report on Thursday, May 17th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.75.
REGI opened at $17.75 on Tuesday. Renewable Energy Group has a fifty-two week low of $9.50 and a fifty-two week high of $18.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.88 and a quick ratio of 1.45. The firm has a market cap of $673.54 million, a PE ratio of -8.70 and a beta of 0.96.
In other Renewable Energy Group news, CFO Chad Stone bought 2,000 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were purchased at an average price of $13.73 per share, for a total transaction of $27,460.00. Following the completion of the transaction, the chief financial officer now directly owns 104,245 shares in the company, valued at approximately $1,431,283.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gary Haer sold 9,830 shares of Renewable Energy Group stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $17.84, for a total value of $175,367.20. Following the completion of the transaction, the vice president now owns 110,016 shares in the company, valued at approximately $1,962,685.44. The disclosure for this sale can be found here. Insiders own 1.97% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in REGI. Allianz Asset Management GmbH grew its holdings in shares of Renewable Energy Group by 48.2% during the first quarter. Allianz Asset Management GmbH now owns 300,868 shares of the oil and gas company’s stock worth $3,852,000 after purchasing an additional 97,825 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Renewable Energy Group during the first quarter worth about $574,000. Millennium Management LLC grew its holdings in shares of Renewable Energy Group by 5,021.0% during the first quarter. Millennium Management LLC now owns 695,642 shares of the oil and gas company’s stock worth $8,904,000 after purchasing an additional 682,058 shares during the last quarter. Springhouse Capital Management LP bought a new stake in shares of Renewable Energy Group during the first quarter worth about $465,000. Finally, Jane Street Group LLC bought a new stake in shares of Renewable Energy Group during the first quarter worth about $149,000.
About Renewable Energy Group
Renewable Energy Group, Inc produces and sells biofuels and renewable chemicals in North America. The company operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It acquires feedstock; and manages construction and operates biomass-based diesel production facilities.
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