Renewable Energy Group (NASDAQ:REGI) announced that its Board of Directors has approved a stock buyback plan, which permits the company to repurchase $75.00 million in shares on Thursday, December 14th, EventVestor reports. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

REGI has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Piper Jaffray Companies restated a “hold” rating and set a $13.00 price objective on shares of Renewable Energy Group in a report on Friday, November 3rd. Roth Capital set a $17.00 price objective on shares of Renewable Energy Group and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Finally, BidaskClub upgraded shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.33.

Shares of Renewable Energy Group (NASDAQ:REGI) opened at $11.35 on Monday. Renewable Energy Group has a 1-year low of $8.25 and a 1-year high of $13.55. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. The stock has a market cap of $439.12, a PE ratio of 378.33 and a beta of 1.48.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. Renewable Energy Group had a negative net margin of 1.96% and a positive return on equity of 0.38%. The business had revenue of $627.00 million during the quarter, compared to the consensus estimate of $513.88 million. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. analysts forecast that Renewable Energy Group will post -1.63 EPS for the current fiscal year.

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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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