Renewable Energy Group (REGI) Cut to “Buy” at BidaskClub

Renewable Energy Group (NASDAQ:REGI) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Other analysts have also recently issued reports about the company. Canaccord Genuity raised their price target on Renewable Energy Group from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Roth Capital set a $25.00 price objective on Renewable Energy Group and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded Renewable Energy Group from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Saturday, August 11th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.50.

Shares of REGI traded up $0.57 during mid-day trading on Thursday, hitting $26.96. The company’s stock had a trading volume of 484,595 shares, compared to its average volume of 736,637. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.48 and a quick ratio of 1.06. The stock has a market capitalization of $1.07 billion, a P/E ratio of -13.22 and a beta of 1.20. Renewable Energy Group has a 1-year low of $9.50 and a 1-year high of $29.58.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.46 by $0.32. The business had revenue of $580.15 million during the quarter, compared to analysts’ expectations of $572.60 million. Renewable Energy Group had a return on equity of 32.12% and a net margin of 8.64%. Research analysts anticipate that Renewable Energy Group will post 2.07 EPS for the current year.

In other Renewable Energy Group news, VP Eric Bowen sold 6,769 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $27.11, for a total value of $183,507.59. Following the completion of the sale, the vice president now directly owns 104,452 shares in the company, valued at $2,831,693.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gary Haer sold 13,581 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $20.65, for a total value of $280,447.65. Following the completion of the sale, the vice president now owns 77,329 shares of the company’s stock, valued at $1,596,843.85. The disclosure for this sale can be found here. Insiders sold 40,350 shares of company stock valued at $1,012,955 over the last 90 days. 1.97% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in REGI. BlackRock Inc. lifted its position in shares of Renewable Energy Group by 64.0% during the 2nd quarter. BlackRock Inc. now owns 5,251,969 shares of the oil and gas company’s stock valued at $93,749,000 after acquiring an additional 2,049,773 shares during the last quarter. Millennium Management LLC lifted its position in shares of Renewable Energy Group by 5,021.0% during the 1st quarter. Millennium Management LLC now owns 695,642 shares of the oil and gas company’s stock valued at $8,904,000 after acquiring an additional 682,058 shares during the last quarter. ClariVest Asset Management LLC lifted its position in shares of Renewable Energy Group by 2,572.3% during the 2nd quarter. ClariVest Asset Management LLC now owns 362,117 shares of the oil and gas company’s stock valued at $6,465,000 after acquiring an additional 348,566 shares during the last quarter. Luzich Partners LLC acquired a new stake in shares of Renewable Energy Group during the 2nd quarter valued at $5,355,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Renewable Energy Group by 104.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 452,633 shares of the oil and gas company’s stock valued at $8,079,000 after acquiring an additional 230,703 shares during the last quarter.

Renewable Energy Group Company Profile

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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