Zacks Investment Research Downgrades Renewable Energy Group (NASDAQ:REGI) to Strong Sell

Zacks Investment Research downgraded shares of Renewable Energy Group (NASDAQ:REGI) from a hold rating to a strong sell rating in a research report released on Wednesday, Zacks.com reports.

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. “

Several other brokerages have also recently issued reports on REGI. Roth Capital raised shares of Renewable Energy Group from a neutral rating to a buy rating and set a $22.00 price objective for the company in a research note on Monday, June 24th. BWS Financial reiterated a buy rating on shares of Renewable Energy Group in a report on Friday, September 6th. BidaskClub upgraded shares of Renewable Energy Group from a sell rating to a hold rating in a report on Saturday, September 7th. Finally, ValuEngine upgraded shares of Renewable Energy Group from a buy rating to a strong-buy rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $29.75.

Shares of NASDAQ REGI opened at $14.98 on Wednesday. Renewable Energy Group has a 12-month low of $9.90 and a 12-month high of $32.52. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $12.82 and a 200 day moving average of $17.21.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.92). Renewable Energy Group had a negative net margin of 2.88% and a negative return on equity of 5.90%. The business had revenue of $560.64 million for the quarter, compared to analysts’ expectations of $572.93 million. As a group, research analysts forecast that Renewable Energy Group will post -2.24 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Royce & Associates LP acquired a new position in Renewable Energy Group in the 1st quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its holdings in Renewable Energy Group by 4,539.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 2,860 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Renewable Energy Group by 734.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,393 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 9,147 shares during the last quarter. Private Advisors LLC acquired a new position in Renewable Energy Group in the 2nd quarter valued at about $174,000. Finally, SG Americas Securities LLC boosted its holdings in Renewable Energy Group by 7.6% in the 1st quarter. SG Americas Securities LLC now owns 8,657 shares of the oil and gas company’s stock valued at $190,000 after purchasing an additional 613 shares during the last quarter.

About Renewable Energy Group

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

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