Renewable Energy Group (NASDAQ:REGI) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Renewable Energy Group (NASDAQ:REGI) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

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 equities analysts have also weighed in on the stock. Raymond James reiterated a buy rating and set a $75.00 price objective on shares of Renewable Energy Group in a report on Tuesday, September 21st. Truist dropped their price objective on shares of Renewable Energy Group from $85.00 to $70.00 and set a buy rating on the stock in a report on Monday, July 26th. Truist Securities reiterated a buy rating and set a $61.10 price objective on shares of Renewable Energy Group in a report on Monday, July 26th. Evercore ISI initiated coverage on shares of Renewable Energy Group in a report on Wednesday, July 14th. They set an in-line rating and a $65.00 price objective on the stock. Finally, Guggenheim initiated coverage on shares of Renewable Energy Group in a report on Friday, July 9th. They set a buy rating and a $87.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $80.86.

REGI stock opened at $53.78 on Wednesday. The company’s fifty day simple moving average is $50.70 and its 200 day simple moving average is $58.29. Renewable Energy Group has a 12-month low of $45.06 and a 12-month high of $117.00. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 14.54 and a beta of 0.67. The company has a quick ratio of 5.24, a current ratio of 6.92 and a debt-to-equity ratio of 0.33.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Wednesday, August 4th. The oil and gas company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.36. Renewable Energy Group had a net margin of 6.90% and a return on equity of 12.32%. The firm had revenue of $816.22 million for the quarter, compared to analyst estimates of $777.95 million. Research analysts expect that Renewable Energy Group will post 4.29 earnings per share for the current year.

In other news, CEO Cynthia J. Warner acquired 1,500 shares of Renewable Energy Group stock in a transaction on Tuesday, August 24th. The stock was acquired at an average cost of $49.94 per share, with a total value of $74,910.00. Following the transaction, the chief executive officer now owns 107,757 shares of the company’s stock, valued at approximately $5,381,384.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Chad Stone sold 774 shares of the company’s stock in a transaction dated Tuesday, September 28th. The stock was sold at an average price of $51.00, for a total transaction of $39,474.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 6,500 shares of company stock valued at $326,430 and sold 14,310 shares valued at $744,233. Corporate insiders own 2.47% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in shares of Renewable Energy Group by 12.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 24,200 shares of the oil and gas company’s stock valued at $1,215,000 after acquiring an additional 2,700 shares during the period. State of Alaska Department of Revenue grew its position in shares of Renewable Energy Group by 11.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,644 shares of the oil and gas company’s stock valued at $1,839,000 after acquiring an additional 3,688 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Renewable Energy Group by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,704 shares of the oil and gas company’s stock valued at $3,598,000 after acquiring an additional 2,542 shares during the period. Virtu Financial LLC bought a new position in shares of Renewable Energy Group during the 2nd quarter valued at approximately $748,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of Renewable Energy Group by 0.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 132,967 shares of the oil and gas company’s stock valued at $8,289,000 after acquiring an additional 853 shares during the period. 87.82% of the stock is owned by hedge funds and other institutional investors.

Renewable Energy Group Company Profile

Renewable Energy Group, Inc is a holding company, which engages in the production and trade of biofuel and renewable chemicals. It operates through the following segments: Biomass-based Diesel and Services. The Biomass-based Diesel segment processes waste vegetable oils, animal fats, virgin vegetable oils and other feedstock’s and methanol into biomass-based diesel.

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