Renewable Energy Group (REGI) Raised to Buy at Zacks Investment Research

Renewable Energy Group (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm currently has a $23.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.26% from the company’s current price.

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. “

REGI has been the subject of a number of other research reports. BidaskClub raised Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 27th. Canaccord Genuity upped their target price on Renewable Energy Group from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 26th. ValuEngine raised Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 2nd. Finally, Roth Capital set a $21.00 target price on Renewable Energy Group and gave the stock a “buy” rating in a research report on Thursday, May 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Renewable Energy Group presently has a consensus rating of “Buy” and a consensus price target of $20.50.

Shares of Renewable Energy Group opened at $21.05 on Friday, MarketBeat reports. The company has a market cap of $755.63 million, a price-to-earnings ratio of 3.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.48 and a quick ratio of 1.45. Renewable Energy Group has a 12-month low of $9.50 and a 12-month high of $21.50.

Renewable Energy Group (NASDAQ:REGI) last announced its earnings results on Monday, August 6th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.32. The firm had revenue of $580.15 million during the quarter, compared to analysts’ expectations of $572.60 million. Renewable Energy Group had a return on equity of 32.12% and a net margin of 8.64%. equities analysts predict that Renewable Energy Group will post 2.07 EPS for the current fiscal year.

In other news, VP Gary Haer sold 9,830 shares of the stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $17.84, for a total value of $175,367.20. Following the completion of the sale, the vice president now directly owns 110,016 shares of the company’s stock, valued at $1,962,685.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.97% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Mutual Advisors LLC bought a new stake in shares of Renewable Energy Group in the first quarter valued at approximately $1,262,000. Matarin Capital Management LLC bought a new stake in shares of Renewable Energy Group in the first quarter valued at approximately $4,163,000. OppenheimerFunds Inc. boosted its position in shares of Renewable Energy Group by 0.8% in the first quarter. OppenheimerFunds Inc. now owns 1,376,300 shares of the oil and gas company’s stock valued at $17,616,000 after acquiring an additional 11,073 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Renewable Energy Group by 48.2% in the first quarter. Allianz Asset Management GmbH now owns 300,868 shares of the oil and gas company’s stock valued at $3,852,000 after acquiring an additional 97,825 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Renewable Energy Group in the fourth quarter valued at approximately $160,000.

About Renewable Energy Group

Renewable Energy Group, Inc produces and sells biofuels and renewable chemicals in North America. The company operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It acquires feedstock; and manages construction and operates biomass-based diesel production facilities.

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