Green Plains (GPRE) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Green Plains (NASDAQ:GPRE) from a sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Green Plains Inc. is vertically integrated producer, marketer and distributer of ethanol. The company operates through four segments: Ethanol Production, Corn Oil Production, Agribusiness, and Marketing and Distribution. It produces ethanol and co-products, such as wet, modified wet or dried distillers grains, as well as extracts non-edible corn oil. The company is also involved in buying and selling bulk grain primarily corn and soybeans. Green Plains Inc., formerly known as Green Plains Renewable Energy, Inc., is headquartered in Omaha, Nebraska. “

Several other research analysts have also recently issued reports on GPRE. BidaskClub cut shares of Green Plains from a sell rating to a strong sell rating in a report on Wednesday, July 18th. Roth Capital set a $25.00 target price on shares of Green Plains and gave the stock a buy rating in a report on Tuesday, July 31st. Finally, ValuEngine raised shares of Green Plains from a sell rating to a hold rating in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Green Plains currently has a consensus rating of Hold and a consensus target price of $24.00.

Green Plains stock traded up $0.51 during trading hours on Tuesday, hitting $18.17. The stock had a trading volume of 569,339 shares, compared to its average volume of 827,639. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.64 and a current ratio of 1.51. The stock has a market capitalization of $718.39 million, a PE ratio of -21.13 and a beta of 1.00. Green Plains has a 12-month low of $15.25 and a 12-month high of $21.90.

Green Plains (NASDAQ:GPRE) last issued its earnings results on Wednesday, November 7th. The specialty chemicals company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.19). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $996.40 million. Green Plains had a negative return on equity of 3.73% and a net margin of 1.45%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted ($0.18) earnings per share. As a group, equities research analysts forecast that Green Plains will post -1 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GPRE. BlackRock Inc. raised its holdings in shares of Green Plains by 8.5% during the second quarter. BlackRock Inc. now owns 6,292,976 shares of the specialty chemicals company’s stock valued at $115,162,000 after purchasing an additional 493,801 shares during the last quarter. Precocity Capital LP purchased a new position in shares of Green Plains during the second quarter valued at approximately $7,320,000. Millennium Management LLC raised its holdings in shares of Green Plains by 39.7% during the first quarter. Millennium Management LLC now owns 671,936 shares of the specialty chemicals company’s stock valued at $11,289,000 after purchasing an additional 190,927 shares during the last quarter. Richard Bernstein Advisors LLC purchased a new position in shares of Green Plains during the second quarter valued at approximately $2,415,000. Finally, Systematic Financial Management LP purchased a new position in shares of Green Plains during the third quarter valued at approximately $1,354,000.

About Green Plains

Green Plains Inc produces, markets, and distributes ethanol in the United States and internationally. The company operates through four segments: Ethanol Production; Agribusiness and Energy Services; Food and Ingredients; and Partnership. The Ethanol Production segment produces and sells ethanol, distiller grains, and corn oil.

See Also: What is an Initial Public Offering (IPO)?

Get a free copy of the Zacks research report on Green Plains (GPRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Green Plains Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Plains and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply