Green Plains Inc (GPRE) Rating Increased to Hold at Zacks Investment Research
Green Plains Inc (NASDAQ:GPRE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Green Plains Inc. is vertically integrated producer, marketer and distributer of ethanol. The company operates through four segments: Ethanol Production, Corn Oil Production, Agribusiness, and Marketing and Distribution. It produces ethanol and co-products, such as wet, modified wet or dried distillers grains, as well as extracts non-edible corn oil. The company is also involved in buying and selling bulk grain primarily corn and soybeans. Green Plains Inc., formerly known as Green Plains Renewable Energy, Inc., is headquartered in Omaha, Nebraska. “
Other equities analysts have also issued reports about the company. Jefferies Group LLC reissued a “buy” rating and set a $25.00 price target (down from $28.00) on shares of Green Plains in a research report on Wednesday, August 2nd. Roth Capital set a $27.00 price objective on shares of Green Plains and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Craig Hallum started coverage on shares of Green Plains in a research report on Thursday, September 14th. They issued a “buy” rating and a $29.00 price objective for the company. ValuEngine upgraded shares of Green Plains from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $19.00 price objective on shares of Green Plains in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Green Plains currently has an average rating of “Buy” and a consensus target price of $27.50.
Shares of Green Plains (NASDAQ GPRE) opened at 20.60 on Wednesday. The firm has a 50-day moving average price of $18.88 and a 200-day moving average price of $21.11. The firm has a market cap of $854.57 million, a price-to-earnings ratio of 120.47 and a beta of 1.37. Green Plains has a 52-week low of $16.35 and a 52-week high of $29.85.
Green Plains (NASDAQ:GPRE) last posted its earnings results on Monday, July 31st. The specialty chemicals company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.29). The company had revenue of $886.30 million during the quarter, compared to analyst estimates of $986.88 million. Green Plains had a negative net margin of 1.33% and a negative return on equity of 7.61%. Green Plains’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. Analysts predict that Green Plains will post ($0.29) EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in GPRE. Envestnet Asset Management Inc. raised its position in shares of Green Plains by 7.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,022 shares of the specialty chemicals company’s stock valued at $100,000 after purchasing an additional 270 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Green Plains by 85.9% during the second quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock worth $149,000 after buying an additional 3,369 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Green Plains by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 7,612 shares of the specialty chemicals company’s stock worth $156,000 after buying an additional 104 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Green Plains by 2.0% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,150 shares of the specialty chemicals company’s stock worth $202,000 after buying an additional 160 shares in the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Green Plains during the first quarter worth approximately $204,000.
About Green Plains
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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