Renewable Energy Group (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm currently has a $13.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.65% from the stock’s previous close.

According to Zacks, “Renewable Energy Group, Inc. produces and sells biofuels and renewable chemicals in the U.S. It operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It produces biomass-based diesel from a range of feedstocks, including inedible corn oil, used cooking oil, soybean oil, canola oil, and inedible animal fat. This segment is also involved in the purchase and resale of biomass-based diesel, petroleum-based diesel, renewable identification numbers, and raw material feedstocks acquired from third parties; and sale of glycerin, free fatty acids, naphtha, and other co-products of the biomass-based diesel production process. The Services segment provides facility management and operational services to biomass-based diesel production facilities, as well as to other clean-tech companies. This segment also offers construction management services for biomass-based diesel production facilities. REG is committed to being a long-term leader in bio-based fuel and chemicals. “

A number of other analysts have also commented on REGI. BidaskClub lowered Renewable Energy Group from a “sell” rating to a “strong sell” rating in a research report on Friday, March 9th. Canaccord Genuity reiterated a “buy” rating and issued a $16.00 price objective on shares of Renewable Energy Group in a research report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $14.75.

Shares of Renewable Energy Group (REGI) opened at $11.05 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $421.71, a PE ratio of -10.14, a P/E/G ratio of 0.35 and a beta of 1.14. Renewable Energy Group has a 12-month low of $9.41 and a 12-month high of $13.55.

Renewable Energy Group declared that its Board of Directors has initiated a share buyback program on Thursday, December 14th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In related news, Director Peter John Martin Harding bought 20,000 shares of Renewable Energy Group stock in a transaction on Tuesday, March 13th. The shares were purchased at an average price of $10.94 per share, for a total transaction of $218,800.00. Following the completion of the acquisition, the director now owns 73,592 shares in the company, valued at $805,096.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.54% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC bought a new position in Renewable Energy Group during the third quarter worth about $139,000. Tower Research Capital LLC TRC boosted its holdings in Renewable Energy Group by 73.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,887 shares of the oil and gas company’s stock worth $140,000 after buying an additional 5,020 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Renewable Energy Group during the fourth quarter worth about $140,000. Wolverine Trading LLC bought a new position in Renewable Energy Group during the third quarter worth about $145,000. Finally, Millennium Management LLC bought a new position in Renewable Energy Group during the fourth quarter worth about $160,000.

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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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