Green Plains, Inc. (NASDAQ:GPRE) Downgraded by BidaskClub
Green Plains, Inc. (NASDAQ:GPRE) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, July 12th.
GPRE has been the topic of a number of other research reports. BMO Capital Markets restated an “outperform” rating and set a $30.00 price target on shares of Green Plains in a research note on Wednesday, April 26th. Zacks Investment Research upgraded Green Plains from a “strong sell” rating to a “hold” rating and set a $29.00 price target on the stock in a research note on Thursday, May 4th. Jefferies Group LLC decreased their price objective on Green Plains from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, July 10th. Finally, Credit Suisse Group decreased their price objective on Green Plains from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, March 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $27.29.
Green Plains (NASDAQ:GPRE) last released its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.29. The firm had revenue of $886.30 million for the quarter, compared to analysts’ expectations of $986.88 million. Green Plains had a return on equity of 0.68% and a net margin of 0.19%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS.
In related news, insider Todd A. Becker sold 5,600 shares of Green Plains stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $23.29, for a total transaction of $130,424.00. Following the completion of the transaction, the insider now directly owns 708,088 shares of the company’s stock, valued at $16,491,369.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michelle Mapes sold 2,301 shares of Green Plains stock in a transaction on Monday, May 15th. The stock was sold at an average price of $24.81, for a total value of $57,087.81. Following the transaction, the executive vice president now directly owns 53,596 shares of the company’s stock, valued at $1,329,716.76. The disclosure for this sale can be found here. Insiders sold a total of 87,903 shares of company stock valued at $1,932,599 over the last three months. Insiders own 6.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in Green Plains by 44,650.2% in the first quarter. BlackRock Inc. now owns 4,439,215 shares of the specialty chemicals company’s stock valued at $109,870,000 after buying an additional 4,429,295 shares during the last quarter. Point72 Asset Management L.P. increased its position in Green Plains by 102.5% in the first quarter. Point72 Asset Management L.P. now owns 3,323,106 shares of the specialty chemicals company’s stock valued at $82,247,000 after buying an additional 1,682,049 shares during the last quarter. State Street Corp increased its position in Green Plains by 31.7% in the first quarter. State Street Corp now owns 1,947,171 shares of the specialty chemicals company’s stock valued at $48,195,000 after buying an additional 468,205 shares during the last quarter. Precocity Capital LP bought a new position in Green Plains during the first quarter valued at $9,900,000. Finally, Canada Pension Plan Investment Board increased its position in Green Plains by 2,839.1% in the first quarter. Canada Pension Plan Investment Board now owns 390,900 shares of the specialty chemicals company’s stock valued at $9,675,000 after buying an additional 377,600 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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