Renewable Energy Group (REGI) Rating Increased to Hold at Zacks Investment Research
Renewable Energy Group (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 equities research analysts have also issued research reports about the company. BidaskClub raised Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 target price on shares of Renewable Energy Group in a report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.33.
Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.11. Renewable Energy Group had a positive return on equity of 0.38% and a negative net margin of 1.96%. The company had revenue of $627.00 million during the quarter, compared to analyst estimates of $513.88 million. During the same quarter last year, the firm posted $0.59 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. equities research analysts forecast that Renewable Energy Group will post -1.63 earnings per share for the current fiscal year.
Renewable Energy Group declared that its Board of Directors has approved a stock buyback program on Thursday, December 14th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
In other news, Director Peter John Martin Harding bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average price of $11.14 per share, for a total transaction of $55,700.00. Following the transaction, the director now directly owns 64,136 shares of the company’s stock, valued at approximately $714,475.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.54% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. bought a new stake in Renewable Energy Group in the second quarter valued at approximately $110,000. Old Mutual Global Investors UK Ltd. bought a new stake in Renewable Energy Group in the third quarter valued at approximately $120,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Renewable Energy Group during the third quarter valued at approximately $139,000. Oppenheimer & Co. Inc. bought a new position in shares of Renewable Energy Group during the second quarter valued at approximately $142,000. Finally, Federated Investors Inc. PA raised its holdings in shares of Renewable Energy Group by 17.8% during the second quarter. Federated Investors Inc. PA now owns 11,029 shares of the oil and gas company’s stock valued at $143,000 after acquiring an additional 1,668 shares in the last quarter.
TRADEMARK VIOLATION WARNING: This piece of content was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/04/renewable-energy-group-regi-rating-increased-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Renewable Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renewable Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.