Pacific Ethanol Inc. (PEIX) Stock Rating Upgraded by Zacks Investment Research
Pacific Ethanol Inc. (NASDAQ:PEIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $7.50 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 10.29% from the company’s previous close.
According to Zacks, “Pacific Ethanol, Inc. is currently in the business of marketing ethanol in the Western United States through Kinergy Marketing, a wholly-owned subsidiary of the Company and the largest West Coast-based marketer of renewable fuels. The Company intends, in the near future, to construct an ethanol production facility at its Madera County, California, site. “
Separately, Roth Capital reiterated a “buy” rating and set a $9.00 price target on shares of Pacific Ethanol in a research note on Monday, August 1st. Five research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $9.13.
Pacific Ethanol (NASDAQ:PEIX) opened at 6.80 on Thursday. The company’s market capitalization is $293.47 million. Pacific Ethanol has a one year low of $2.41 and a one year high of $7.64. The firm’s 50-day moving average is $6.63 and its 200 day moving average is $5.61.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.14. The company had revenue of $422.90 million for the quarter, compared to analyst estimates of $383.29 million. Pacific Ethanol had a negative net margin of 1.55% and a negative return on equity of 4.18%. The business’s revenue for the quarter was up 85.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, equities analysts expect that Pacific Ethanol will post $0.04 EPS for the current fiscal year.
In other news, Director William L. Jones sold 15,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $6.75, for a total transaction of $101,250.00. Following the completion of the transaction, the director now directly owns 53,624 shares of the company’s stock, valued at $361,962. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Prince sold 17,745 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $6.64, for a total value of $117,826.80. Following the transaction, the director now directly owns 28,801 shares of the company’s stock, valued at $191,238.64. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Pacific Ethanol by 1.7% in the first quarter. Geode Capital Management LLC now owns 162,375 shares of the company’s stock worth $759,000 after buying an additional 2,651 shares during the period. DNB Asset Management AS acquired a new position in shares of Pacific Ethanol during the second quarter worth about $626,000. EAM Investors LLC acquired a new position in shares of Pacific Ethanol during the second quarter worth about $2,562,000. Emerald Acquisition Ltd. acquired a new position in shares of Pacific Ethanol during the second quarter worth about $3,654,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Pacific Ethanol during the second quarter worth about $1,805,000. 73.71% of the stock is owned by institutional investors and hedge funds.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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