Renewable Energy Group, Inc. (REGI) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Renewable Energy Group, Inc. (NASDAQ:REGI) from a sell rating to a hold rating in a report published on Wednesday morning.
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 brokerages also recently issued reports on REGI. Piper Jaffray Companies set a $13.00 price objective on Renewable Energy Group and gave the stock a hold rating in a research report on Saturday, July 22nd. BidaskClub cut shares of Renewable Energy Group from a buy rating to a hold rating in a research note on Monday, July 31st. ValuEngine raised shares of Renewable Energy Group from a buy rating to a strong-buy rating in a research note on Friday, July 14th. Roth Capital set a $17.00 target price on shares of Renewable Energy Group and gave the stock a buy rating in a research note on Wednesday, June 14th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $16.00 target price on shares of Renewable Energy Group in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $15.00.
Renewable Energy Group (NASDAQ REGI) traded up 1.24% during midday trading on Wednesday, hitting $12.25. The stock had a trading volume of 228,125 shares. Renewable Energy Group has a 12-month low of $7.91 and a 12-month high of $13.39. The firm’s market cap is $473.94 million. The stock has a 50-day moving average price of $12.02 and a 200 day moving average price of $11.09.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.13. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. The company had revenue of $535.10 million for the quarter, compared to analyst estimates of $531.88 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Renewable Energy Group will post ($1.56) earnings per share for the current fiscal year.
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In other news, major shareholder Carlson Capital L. P sold 65,000 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $12.83, for a total transaction of $833,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.28% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. bought a new stake in shares of Renewable Energy Group during the second quarter valued at about $110,000. Denver Investment Advisors LLC bought a new stake in shares of Renewable Energy Group during the first quarter valued at about $113,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Renewable Energy Group by 155.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 7,160 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Renewable Energy Group during the second quarter valued at about $142,000. Finally, Federated Investors Inc. PA boosted its stake in shares of Renewable Energy Group by 17.8% in the second quarter. Federated Investors Inc. PA now owns 11,029 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 1,668 shares in the last quarter.
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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