Zacks Investment Research upgraded shares of Renewable Energy Group (NASDAQ:REGI) from a sell rating to a hold rating in a research note released on Thursday, 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. “

Other research analysts also recently issued research reports about the company. BidaskClub downgraded Renewable Energy Group from a strong-buy rating to a buy rating in a report on Tuesday, February 12th. BWS Financial initiated coverage on Renewable Energy Group in a report on Wednesday, April 24th. They set a buy rating and a $31.00 price target on the stock. TheStreet downgraded Renewable Energy Group from a b rating to a c+ rating in a report on Friday, May 3rd. Roth Capital downgraded Renewable Energy Group from a buy rating to a neutral rating and reduced their price target for the company from $35.00 to $22.00 in a report on Friday, May 3rd. Finally, Piper Jaffray Companies initiated coverage on Renewable Energy Group in a report on Thursday, April 4th. They set an overweight rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $28.40.

Shares of NASDAQ:REGI opened at $16.34 on Thursday. Renewable Energy Group has a 1 year low of $16.01 and a 1 year high of $32.52. The stock has a market cap of $614.68 million, a P/E ratio of 2.41 and a beta of 0.94. The company has a current ratio of 1.27, a quick ratio of 0.72 and a debt-to-equity ratio of 0.09.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.41). Renewable Energy Group had a net margin of 1.52% and a return on equity of 6.23%. The business had revenue of $478.21 million for the quarter, compared to analysts’ expectations of $480.79 million. On average, analysts expect that Renewable Energy Group will post 0.86 earnings per share for the current fiscal year.

In other Renewable Energy Group news, VP Gary Haer sold 19,675 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $16.28, for a total transaction of $320,309.00. Following the transaction, the vice president now owns 29,185 shares in the company, valued at approximately $475,131.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Delbert Christensen bought 1,750 shares of Renewable Energy Group stock in a transaction on Friday, March 8th. The shares were purchased at an average price of $23.01 per share, for a total transaction of $40,267.50. Following the acquisition, the director now directly owns 76,191 shares in the company, valued at approximately $1,753,154.91. The disclosure for this purchase can be found here. 3.01% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of Renewable Energy Group by 1,606.2% during the 4th quarter. Mackenzie Financial Corp now owns 149,345 shares of the oil and gas company’s stock worth $3,838,000 after acquiring an additional 140,592 shares during the period. Texas Permanent School Fund grew its holdings in shares of Renewable Energy Group by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 24,409 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 965 shares during the period. BlackRock Inc. grew its holdings in shares of Renewable Energy Group by 3.9% during the 4th quarter. BlackRock Inc. now owns 5,879,109 shares of the oil and gas company’s stock worth $151,092,000 after acquiring an additional 222,662 shares during the period. Citigroup Inc. grew its holdings in shares of Renewable Energy Group by 106.8% during the 4th quarter. Citigroup Inc. now owns 125,722 shares of the oil and gas company’s stock worth $3,231,000 after acquiring an additional 64,936 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Renewable Energy Group during the 4th quarter worth approximately $207,000.

Renewable Energy Group Company Profile

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

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