Renewable Energy Group, Inc. (REGI) Rating Lowered to Buy at ValuEngine
Renewable Energy Group, Inc. (NASDAQ:REGI) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.
Several other brokerages have also issued reports on REGI. Zacks Investment Research upgraded shares of Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, May 9th. BidaskClub downgraded Renewable Energy Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity raised Renewable Energy Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $16.00 in a research report on Friday, May 5th. Piper Jaffray Companies set a $13.00 target price on Renewable Energy Group and gave the company a “hold” rating in a research report on Saturday, July 22nd. Finally, Roth Capital set a $17.00 target price on Renewable Energy Group and gave the company a “buy” rating in a research report on Wednesday, June 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $15.00.
Shares of Renewable Energy Group (NASDAQ REGI) traded down 2.29% on Tuesday, reaching $11.75. 709,813 shares of the company’s stock traded hands. Renewable Energy Group has a 52 week low of $7.91 and a 52 week high of $13.39. The firm’s 50 day moving average is $12.45 and its 200 day moving average is $10.68. The firm has a market capitalization of $453.48 million, a P/E ratio of 13.49 and a beta of 1.74.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.13. The company had revenue of $535.10 million during the quarter, compared to analysts’ expectations of $531.88 million. Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.11%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. Analysts expect that Renewable Energy Group will post $1.48 earnings per share for the current fiscal year.
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In other Renewable Energy Group news, major shareholder Carlson Capital L. P sold 65,000 shares of Renewable Energy Group stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $12.83, for a total value of $833,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Chad Stone bought 3,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average cost of $11.95 per share, with a total value of $35,850.00. Following the completion of the transaction, the chief financial officer now owns 88,323 shares in the company, valued at $1,055,459.85. The disclosure for this purchase can be found here. Insiders own 2.28% of the company’s stock.
Several institutional investors have recently made changes to their positions in REGI. Oxford Asset Management purchased a new position in shares of Renewable Energy Group during the first quarter valued at $3,225,000. Prudential Financial Inc. purchased a new position in shares of Renewable Energy Group during the second quarter valued at $3,340,000. Acadian Asset Management LLC increased its position in shares of Renewable Energy Group by 247.1% in the first quarter. Acadian Asset Management LLC now owns 253,504 shares of the oil and gas company’s stock valued at $2,649,000 after buying an additional 180,476 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its position in shares of Renewable Energy Group by 41.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 615,956 shares of the oil and gas company’s stock valued at $7,976,000 after buying an additional 179,714 shares in the last quarter. Finally, Sanders Morris Harris Inc. purchased a new position in shares of Renewable Energy Group during the first quarter valued at $1,752,000. 98.17% of the stock is owned by institutional investors and hedge funds.
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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