Renewable Energy Group (REGI) to Repurchase $75.00 million in Outstanding Shares
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.
COPYRIGHT VIOLATION NOTICE: “Renewable Energy Group (REGI) to Repurchase $75.00 million in Outstanding Shares” was first published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.watchlistnews.com/renewable-energy-group-regi-to-repurchase-75-00-million-in-outstanding-shares/1770371.html.
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.
Receive News & Ratings for Renewable Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renewable Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.