Renewable Energy Group, Inc. (NASDAQ:REGI) Cut to “Sell” at Zacks Investment Research
Renewable Energy Group, Inc. (NASDAQ:REGI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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. “
A number of other equities research analysts have also issued reports on REGI. BidaskClub lowered shares of Renewable Energy Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine lowered shares of Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Piper Jaffray Companies set a $13.00 target price on shares of Renewable Energy Group and gave the stock a “hold” rating in a report on Saturday, July 22nd. Roth Capital set a $17.00 target price on shares of Renewable Energy Group and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $16.00 target price on shares of Renewable Energy Group in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.00.
Renewable Energy Group (NASDAQ REGI) opened at 11.75 on Wednesday. The stock’s 50 day moving average is $12.45 and its 200-day moving average is $10.68. The stock has a market capitalization of $453.48 million, a price-to-earnings ratio of 13.49 and a beta of 1.74. Renewable Energy Group has a 12 month low of $7.91 and a 12 month high of $13.39.
Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.13. The business had revenue of $535.10 million for the quarter, compared to analyst estimates of $531.88 million. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. Renewable Energy Group’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, equities research analysts expect that Renewable Energy Group will post $1.48 earnings per share for the current year.
In other Renewable Energy Group news, major shareholder Carlson Capital L. P sold 65,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $12.83, for a total value of $833,950.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Chad Stone acquired 3,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average cost of $11.95 per share, for a total transaction of $35,850.00. Following the completion of the transaction, the chief financial officer now owns 88,323 shares in the company, valued at approximately $1,055,459.85. The disclosure for this purchase can be found here. Corporate insiders own 2.28% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Gilbert & Cook Inc. increased its stake in shares of Renewable Energy Group by 1.8% in the second quarter. Gilbert & Cook Inc. now owns 12,623 shares of the oil and gas company’s stock worth $163,000 after buying an additional 220 shares in the last quarter. Eidelman Virant Capital increased its position in Renewable Energy Group by 0.9% in the second quarter. Eidelman Virant Capital now owns 143,850 shares of the oil and gas company’s stock worth $1,862,000 after buying an additional 1,300 shares during the period. Bank of Montreal Can increased its position in Renewable Energy Group by 1.5% in the second quarter. Bank of Montreal Can now owns 104,810 shares of the oil and gas company’s stock worth $1,358,000 after buying an additional 1,593 shares during the period. Federated Investors Inc. PA increased its position in Renewable Energy Group by 17.8% in the second quarter. Federated Investors Inc. PA now owns 11,029 shares of the oil and gas company’s stock worth $143,000 after buying an additional 1,668 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in Renewable Energy Group by 8.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 31,771 shares of the oil and gas company’s stock worth $332,000 after buying an additional 2,486 shares during the period. 98.17% of the stock is currently owned by institutional investors.
Renewable Energy Group Company Profile
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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