Renewable Energy Group Lowered to Neutral at Piper Jaffray (REGI)
Renewable Energy Group (NASDAQ:REGI) was downgraded by analysts at Piper Jaffray to a “neutral” rating in a research report issued to clients and investors on Thursday, Analyst Ratings Network reports.
Renewable Energy Group (NASDAQ:REGI) traded down 10.96% on Thursday, hitting $10.48. The stock had a trading volume of 358,177 shares. Renewable Energy Group has a one year low of $5.90 and a one year high of $16.50. The stock has a 50-day moving average of $11.10 and a 200-day moving average of $13.34. The company has a market cap of $382.0 million and a price-to-earnings ratio of 2.90.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.60. The company had revenue of $458.40 million for the quarter, compared to the consensus estimate of $363.24 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was up 42.0% on a year-over-year basis. Analysts expect that Renewable Energy Group will post $4.87 EPS for the current fiscal year.
REGI has been the subject of a number of other recent research reports. Analysts at Wedbush reiterated an “outperform” rating on shares of Renewable Energy Group in a research note to investors on Monday, November 18th. They now have a $16.00 price target on the stock, down previously from $18.00. Separately, analysts at Canaccord Genuity downgraded shares of Renewable Energy Group from a “buy” rating to a “hold” rating in a research note to investors on Monday, November 18th. They now have a $14.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Renewable Energy Group from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, November 11th. They now have a $14.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.25.
Renewable Energy Group, Inc is a producer of biodiesel in the United States. The Company is engaged in each aspect of biodiesel production, from acquiring feedstock, managing construction and operating biodiesel production facilities to marketing, selling and distributing biodiesel and its co-products.
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