Piper Jaffray Companies Reiterates “$13.00” Price Target for Renewable Energy Group, Inc. (REGI)
Piper Jaffray Companies set a $13.00 target price on Renewable Energy Group, Inc. (NASDAQ:REGI) in a report published on Wednesday. The brokerage currently has a hold rating on the oil and gas company’s stock.
REGI has been the topic of several other research reports. Roth Capital set a $17.00 price target on Renewable Energy Group and gave the company a buy rating in a research note on Wednesday. ValuEngine raised Renewable Energy Group from a buy rating to a strong-buy rating in a research note on Friday, July 14th. Canaccord Genuity reissued a buy rating and issued a $16.00 price target on shares of Renewable Energy Group in a research note on Wednesday, June 14th. Zacks Investment Research downgraded Renewable Energy Group from a hold rating to a sell rating in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded Renewable Energy Group from a hold rating to a sell rating in a research note on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $15.00.
Shares of Renewable Energy Group (REGI) opened at 12.00 on Wednesday. The firm’s market capitalization is $464.27 million. The firm has a 50-day moving average price of $12.03 and a 200-day moving average price of $10.97. Renewable Energy Group has a 52 week low of $7.91 and a 52 week high of $13.39.
Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.13. Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. The firm had revenue of $535.10 million during the quarter, compared to analyst estimates of $531.88 million. During the same period in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Renewable Energy Group will post ($1.56) earnings per share for the current fiscal year.
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In other news, major shareholder Carlson Capital L. P sold 65,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $12.83, for a total value of $833,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher D. Sorrells acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was bought 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 28,146 shares in the company, valued at $313,546.44. The disclosure for this purchase can be found here. 2.28% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Strategic Wealth Advisors Group LLC bought a new position in shares of Renewable Energy Group during the second quarter valued at $547,000. Nomura Holdings Inc. boosted its position in shares of Renewable Energy Group by 8.6% in the second quarter. Nomura Holdings Inc. now owns 235,208 shares of the oil and gas company’s stock valued at $3,035,000 after buying an additional 18,714 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Renewable Energy Group during the second quarter valued at $1,092,000. C M Bidwell & Associates Ltd. bought a new position in shares of Renewable Energy Group during the second quarter valued at $110,000. Finally, State Street Corp boosted its position in shares of Renewable Energy Group by 11.8% in the second quarter. State Street Corp now owns 887,932 shares of the oil and gas company’s stock valued at $11,496,000 after buying an additional 94,037 shares during the last quarter.
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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