Green Plains’ (NASDAQ:GPRE) “Hold” Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reiterated their hold rating on shares of Green Plains, Inc. (NASDAQ:GPRE) in a research report sent to investors on Friday. Piper Jaffray Companies currently has a $28.00 price objective on the specialty chemicals company’s stock.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Green Plains from a hold rating to a sell rating in a research note on Thursday, April 13th. Credit Suisse Group lowered their price objective on Green Plains from $31.00 to $29.00 and set an outperform rating for the company in a research note on Wednesday, March 29th. Jefferies Group LLC reissued a buy rating and issued a $32.00 price objective on shares of Green Plains in a research note on Tuesday, May 2nd. BMO Capital Markets reissued an outperform rating and issued a $30.00 price objective on shares of Green Plains in a research note on Wednesday, April 26th. Finally, BidaskClub downgraded Green Plains from a hold rating to a sell rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $29.86.
Shares of Green Plains (GPRE) traded down 2.44% during midday trading on Friday, reaching $19.95. The company had a trading volume of 539,742 shares. Green Plains has a 12-month low of $18.98 and a 12-month high of $29.85. The stock’s 50 day moving average is $21.99 and its 200-day moving average is $23.83. The stock has a market capitalization of $798.20 million, a PE ratio of 24.54 and a beta of 1.42.
Green Plains (NASDAQ:GPRE) last posted its quarterly earnings results on Monday, May 1st. The specialty chemicals company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Green Plains had a return on equity of 3.25% and a net margin of 0.88%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $920.45 million. During the same period in the prior year, the business earned ($0.63) EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, equities research analysts predict that Green Plains will post $0.83 earnings per share for the current fiscal year.
In related news, insider Todd A. Becker sold 5,600 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $23.29, for a total value of $130,424.00. Following the sale, the insider now owns 708,088 shares in the company, valued at $16,491,369.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alain Treuer sold 25,900 shares of the stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $19.51, for a total value of $505,309.00. Following the completion of the sale, the director now owns 336,008 shares in the company, valued at approximately $6,555,516.08. The disclosure for this sale can be found here. Insiders sold 87,903 shares of company stock valued at $1,932,599 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Green Plains by 3.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,752 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 110 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 worth $149,000 after buying an additional 3,369 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 worth $202,000 after buying an additional 160 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of Green Plains during the first quarter worth about $204,000. Finally, Mason Street Advisors LLC increased its stake in shares of Green Plains by 6.5% in the first quarter. Mason Street Advisors LLC now owns 8,303 shares of the specialty chemicals company’s stock worth $205,000 after buying an additional 506 shares during the period.
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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