Green Plains’ (GPRE) “Buy” Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Green Plains, Inc. (NASDAQ:GPRE) in a research note published on Wednesday. They currently have a $25.00 price target on the specialty chemicals company’s stock, down from their previous price target of $28.00. Jefferies Group also issued estimates for Green Plains’ Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.08 EPS, FY2017 earnings at ($0.35) EPS, FY2018 earnings at $0.70 EPS, FY2019 earnings at $0.80 EPS and FY2020 earnings at $1.05 EPS.
A number of other equities research analysts have also recently commented on the company. Roth Capital set a $27.00 target price on Green Plains and gave the company a buy rating in a report on Wednesday. ValuEngine cut Green Plains from a hold rating to a sell rating in a report on Tuesday. BidaskClub upgraded Green Plains from a sell rating to a hold rating in a report on Monday, July 31st. Piper Jaffray Companies reiterated a neutral rating on shares of Green Plains in a report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded Green Plains from a strong sell rating to a hold rating in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Green Plains has a consensus rating of Hold and an average price target of $27.29.
Green Plains (NASDAQ:GPRE) remained flat at $19.10 during trading on Wednesday. The company’s stock had a trading volume of 648,092 shares. The stock has a market cap of $768.20 million, a P/E ratio of 111.70 and a beta of 1.42. The firm has a 50 day moving average of $19.97 and a 200 day moving average of $22.54. Green Plains has a 1-year low of $17.70 and a 1-year high of $29.85.
Green Plains (NASDAQ:GPRE) last announced its earnings results on Monday, July 31st. The specialty chemicals company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.29. The company had revenue of $886.30 million for the quarter, compared to analyst estimates of $986.88 million. Green Plains had a net margin of 0.19% and a return on equity of 0.68%. Green Plains’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. On average, analysts forecast that Green Plains will post $0.50 EPS for the current year.
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In related news, COO Jeffrey S. Briggs sold 39,902 shares of Green Plains stock in a transaction on Friday, June 9th. The stock was sold at an average price of $23.00, for a total value of $917,746.00. Following the transaction, the chief operating officer now owns 212,954 shares in the company, valued at $4,897,942. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alain Treuer sold 25,900 shares of Green Plains stock in a transaction on 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 owns 336,008 shares in the company, valued at approximately $6,555,516.08. The disclosure for this sale can be found here. Insiders have sold 87,903 shares of company stock worth $1,932,599 in the last 90 days. Insiders own 6.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GPRE. Envestnet Asset Management Inc. boosted its position 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 worth $100,000 after buying an additional 270 shares during the last quarter. State of Alaska Department of Revenue boosted its position 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 last quarter. Municipal Employees Retirement System of Michigan boosted its position 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 last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Green Plains during the first quarter worth $204,000. Finally, Mason Street Advisors LLC boosted its position 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 last quarter.
About Green Plains
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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