Renewable Energy Group’s (REGI) Hold Rating Reaffirmed at Piper Jaffray Companies
Renewable Energy Group, Inc. (NASDAQ:REGI)‘s stock had its “hold” rating reaffirmed by equities researchers at Piper Jaffray Companies in a note issued to investors on Friday. They presently have a $13.00 price target on the oil and gas company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 12.55% from the company’s previous close.
Several other brokerages have also commented on REGI. Zacks Investment Research upgraded Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub lowered Renewable Energy Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine lowered Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Roth Capital set a $17.00 target price on Renewable Energy Group and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.33.
Renewable Energy Group (REGI) traded down $0.28 during trading on Friday, reaching $11.55. The company’s stock had a trading volume of 241,092 shares, compared to its average volume of 336,748. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.91 and a quick ratio of 1.23. The company has a market cap of $450.73 million, a PE ratio of 12.80 and a beta of 1.50.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.13). Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. The business had revenue of $535.10 million for the quarter, compared to analysts’ expectations of $531.88 million. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. equities research analysts predict that Renewable Energy Group will post -1.76 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Renewable Energy Group by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,248,793 shares of the oil and gas company’s stock worth $42,072,000 after purchasing an additional 59,691 shares during the period. Vanguard Group Inc. grew its position in shares of Renewable Energy Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,803,817 shares of the oil and gas company’s stock valued at $23,360,000 after acquiring an additional 33,121 shares during the period. State Street Corp grew its position in shares of Renewable Energy Group by 11.8% during the 2nd quarter. State Street Corp now owns 887,932 shares of the oil and gas company’s stock valued at $11,496,000 after acquiring an additional 94,037 shares during the period. Northern Trust Corp grew its position in shares of Renewable Energy Group by 82.3% during the 2nd quarter. Northern Trust Corp now owns 810,886 shares of the oil and gas company’s stock valued at $10,501,000 after acquiring an additional 366,009 shares during the period. Finally, Formula Growth Ltd. grew its position in shares of Renewable Energy Group by 87.4% during the 2nd quarter. Formula Growth Ltd. now owns 765,595 shares of the oil and gas company’s stock valued at $9,914,000 after acquiring an additional 357,000 shares during the period.
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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