Renewable Energy Group Inc (REGI) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Renewable Energy Group Inc. is a biodiesel manufacturer and marketer. The Company is focused on converting natural fats, oils and greases into biodiesel. It sells REG-9000 biodiesel to distributors throughout the United States. Renewable Energy Group Inc. is headquartered in Ames, Iowa. “
Separately, Canaccord Genuity restated a hold rating and issued a $10.50 price objective on shares of Renewable Energy Group in a research report on Thursday, August 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Renewable Energy Group has a consensus rating of Hold and a consensus price target of $10.67.
Shares of Renewable Energy Group (NASDAQ:REGI) traded down 2.28% during midday trading on Thursday, reaching $9.01. 59,020 shares of the company traded hands. The firm’s market capitalization is $348.50 million. Renewable Energy Group has a 1-year low of $6.02 and a 1-year high of $10.43. The stock has a 50 day moving average price of $8.58 and a 200 day moving average price of $9.03.
Renewable Energy Group (NASDAQ:REGI) last issued its earnings results on Thursday, August 4th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.12. The company earned $558 million during the quarter, compared to analysts’ expectations of $417.78 million. The firm’s revenue was up 49.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. Analysts expect that Renewable Energy Group will post $1.25 earnings per share for the current fiscal year.
In related news, Director Peter John Martin Harding acquired 5,000 shares of the stock in a transaction on Friday, September 16th. The shares were acquired at an average price of $8.13 per share, for a total transaction of $40,650.00. Following the transaction, the director now owns 56,637 shares in the company, valued at approximately $460,458.81. The purchase was disclosed in a filing with the SEC, which is available through this link.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors Inc. raised its position in shares of Renewable Energy Group by 8.6% in the first quarter. Teachers Advisors Inc. now owns 1,046,900 shares of the company’s stock worth $9,883,000 after buying an additional 82,840 shares during the period. Prudential Financial Inc. raised its position in shares of Renewable Energy Group by 48.3% in the first quarter. Prudential Financial Inc. now owns 54,120 shares of the company’s stock worth $511,000 after buying an additional 17,624 shares during the period. Franklin Resources Inc. raised its position in shares of Renewable Energy Group by 9.3% in the first quarter. Franklin Resources Inc. now owns 270,000 shares of the company’s stock worth $2,549,000 after buying an additional 23,000 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of Renewable Energy Group during the first quarter worth about $153,000. Finally, Menta Capital LLC acquired a new position in shares of Renewable Energy Group during the first quarter worth about $1,017,000.
About Renewable Energy Group
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services while also providing conventional products and services. The Company is a producer of biomass-based diesel in the United States. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities.
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