Green Plains’ (GPRE) “Outperform” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reiterated their outperform rating on shares of Green Plains, Inc. (NASDAQ:GPRE) in a research report report published on Monday morning. They currently have a $25.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $30.00.
GPRE has been the topic of several other research reports. Roth Capital set a $25.00 target price on shares of Green Plains and gave the company a buy rating in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Green Plains from a strong sell rating to a hold rating in a report on Wednesday, October 4th. Piper Jaffray Companies restated a neutral rating on shares of Green Plains in a report on Wednesday, July 26th. Jefferies Group LLC reduced their target price on shares of Green Plains from $32.00 to $28.00 and set a buy rating on the stock in a report on Monday, July 10th. Finally, Craig Hallum started coverage on shares of Green Plains in a report on Thursday, September 14th. They set a buy rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Green Plains presently has a consensus rating of Hold and an average target price of $25.33.
Green Plains (NASDAQ GPRE) traded up $0.30 during trading hours on Monday, hitting $16.90. 1,495,081 shares of the company traded hands, compared to its average volume of 964,159. The company has a current ratio of 1.57, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82. Green Plains has a 1-year low of $16.00 and a 1-year high of $29.85.
Green Plains (NASDAQ:GPRE) last posted its earnings results on Wednesday, November 1st. The specialty chemicals company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.47). The business had revenue of $901.20 million for the quarter, compared to analyst estimates of $933.36 million. Green Plains had a net margin of 0.92% and a negative return on equity of 0.88%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. sell-side analysts forecast that Green Plains will post -0.33 EPS for the current year.
In other news, CFO John W. Neppl acquired 30,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $16.78 per share, for a total transaction of $503,400.00. Following the acquisition, the chief financial officer now directly owns 38,474 shares of the company’s stock, valued at approximately $645,593.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.40% of the company’s stock.
Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in Green Plains by 85.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock worth $149,000 after buying an additional 3,369 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Green Plains by 1.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,612 shares of the specialty chemicals company’s stock worth $156,000 after purchasing an additional 104 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Green Plains by 2.0% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,150 shares of the specialty chemicals company’s stock worth $202,000 after purchasing an additional 160 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Green Plains in the 1st quarter worth about $204,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Green Plains in the 2nd quarter worth about $255,000.
Green Plains Company Profile
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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