Renewable Energy Group (REGI) Cut to Sell at BidaskClub
Renewable Energy Group (NASDAQ:REGI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Renewable Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Piper Jaffray Companies reissued a “hold” rating and set a $13.00 price objective on shares of Renewable Energy Group in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.33.
Renewable Energy Group (NASDAQ:REGI) traded up $0.30 on Tuesday, hitting $11.30. The stock had a trading volume of 181,682 shares, compared to its average volume of 426,523. Renewable Energy Group has a 52 week low of $8.25 and a 52 week high of $13.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market cap of $429.10, a P/E ratio of -10.37, a PEG ratio of 0.39 and a beta of 1.48.
Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share for the quarter, topping the Zacks’ 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 the consensus estimate of $513.88 million. During the same period last year, the business earned $0.59 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. equities analysts forecast that Renewable Energy Group will post -1.63 earnings per share for the current year.
Renewable Energy Group declared that its Board of Directors has approved a share buyback plan on Thursday, December 14th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other Renewable Energy Group news, Director Peter John Martin Harding bought 5,000 shares of the stock in a transaction on Friday, December 15th. The shares were purchased at an average price of $11.14 per share, with a total value of $55,700.00. Following the acquisition, the director now directly owns 64,136 shares of the company’s stock, valued at approximately $714,475.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.54% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Thomson Horstmann & Bryant Inc. grew its holdings in shares of Renewable Energy Group by 11.1% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 423,949 shares of the oil and gas company’s stock worth $5,002,000 after purchasing an additional 42,383 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of Renewable Energy Group by 4.7% during the 4th quarter. DnB Asset Management AS now owns 2,626,745 shares of the oil and gas company’s stock worth $30,996,000 after purchasing an additional 118,653 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Renewable Energy Group by 51.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 173,170 shares of the oil and gas company’s stock worth $2,104,000 after purchasing an additional 59,012 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of Renewable Energy Group by 512.6% during the 3rd quarter. Rubric Capital Management LP now owns 892,068 shares of the oil and gas company’s stock worth $10,839,000 after purchasing an additional 746,444 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new stake in shares of Renewable Energy Group during the 3rd quarter worth approximately $145,000.
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.
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