Renewable Energy Group Inc (REGI) Stock Rating Upgraded by Zacks Investment Research
Renewable Energy Group Inc (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Renewable Energy Group Inc. is a biodiesel manufacturer and marketer. The Company is focused on converting natural fats, oils and greases into biodiesel. It sells REG-9000 biodiesel to distributors throughout the United States. Renewable Energy Group Inc. is headquartered in Ames, Iowa. “
Separately, Canaccord Genuity restated a “hold” rating and issued a $10.50 target price on shares of Renewable Energy Group in a report on Wednesday, September 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.67.
Renewable Energy Group (NASDAQ:REGI) opened at 8.81 on Thursday. The stock has a 50 day moving average of $8.58 and a 200 day moving average of $9.03. The company’s market cap is $340.76 million. Renewable Energy Group has a 12-month low of $6.02 and a 12-month high of $10.43.
Renewable Energy Group (NASDAQ:REGI) last issued its earnings results on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The company had revenue of $558 million for the quarter, compared to the consensus estimate of $417.78 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The company’s revenue was up 49.3% compared to the same quarter last year. Equities analysts expect that Renewable Energy Group will post $1.25 earnings per share for the current year.
In related news, Director Peter John Martin Harding bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the acquisition, the director now owns 49,271 shares of the company’s stock, valued at approximately $446,887.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of REGI. Teachers Advisors Inc. boosted its position in shares of Renewable Energy Group by 8.6% in the first quarter. Teachers Advisors Inc. now owns 1,046,900 shares of the company’s stock valued at $9,883,000 after buying an additional 82,840 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Renewable Energy Group by 48.3% in the first quarter. Prudential Financial Inc. now owns 54,120 shares of the company’s stock valued at $511,000 after buying an additional 17,624 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Renewable Energy Group by 9.3% in the first quarter. Franklin Resources Inc. now owns 270,000 shares of the company’s stock valued at $2,549,000 after buying an additional 23,000 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Renewable Energy Group during the first quarter valued at $153,000. Finally, Menta Capital LLC acquired a new position in shares of Renewable Energy Group during the first quarter valued at $1,017,000.
About Renewable Energy Group
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services while also providing conventional products and services. The Company is a producer of biomass-based diesel in the United States. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities.
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