BidaskClub Lowers Green Plains, Inc. (GPRE) to Sell
Green Plains, Inc. (NASDAQ:GPRE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.
GPRE has been the subject of several other reports. Piper Jaffray Companies restated a “hold” rating and issued a $19.00 price objective on shares of Green Plains in a report on Thursday, August 3rd. ValuEngine lowered shares of Green Plains from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $30.00 price target on shares of Green Plains in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Green Plains from a “strong sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Thursday, May 4th. Finally, Jefferies Group LLC decreased their price target on shares of Green Plains from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Green Plains has an average rating of “Hold” and an average target price of $27.29.
Green Plains (NASDAQ:GPRE) traded up 0.58% during trading on Friday, hitting $17.25. 1,376,208 shares of the stock traded hands. The stock has a market cap of $715.60 million, a PE ratio of 100.88 and a beta of 1.42. The company has a 50-day moving average price of $19.26 and a 200-day moving average price of $22.17. Green Plains has a 12 month low of $16.90 and a 12 month high of $29.85.
Green Plains (NASDAQ:GPRE) last issued its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.29. Green Plains had a return on equity of 0.68% and a net margin of 0.19%. The company had revenue of $886.30 million during the quarter, compared to the consensus estimate of $986.88 million. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Equities research analysts expect that Green Plains will post ($0.21) EPS for the current year.
In related news, Director Alain Treuer sold 25,900 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $19.51, for a total value of $505,309.00. Following the completion of the transaction, the director now directly owns 336,008 shares in the company, valued at approximately $6,555,516.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James F. Crowley sold 2,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $21.92, for a total transaction of $43,840.00. Following the completion of the transaction, the director now owns 23,209 shares of the company’s stock, valued at $508,741.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,602 shares of company stock valued at $1,875,511. 6.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Green Plains by 7.2% in the first quarter. Envestnet Asset Management Inc. now owns 4,022 shares of the specialty chemicals company’s stock valued at $100,000 after buying an additional 270 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Green Plains by 85.9% in the second quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock valued at $149,000 after buying an additional 3,369 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Green Plains by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 7,612 shares of the specialty chemicals company’s stock valued at $156,000 after buying an additional 104 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Green Plains by 2.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,150 shares of the specialty chemicals company’s stock valued at $202,000 after buying an additional 160 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Green Plains during the first quarter valued at approximately $204,000.
Green Plains Company Profile
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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