Renewable Energy Group (NASDAQ:REGI) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Renewable Energy Group (NASDAQ:REGI) from a strong sell rating to a hold rating in a research report released on Wednesday morning, 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 research analysts also recently weighed in on REGI. BWS Financial reiterated a buy rating on shares of Renewable Energy Group in a research note on Friday, September 6th. Roth Capital upgraded Renewable Energy Group from a neutral rating to a buy rating and set a $22.00 price target for the company in a research note on Monday, June 24th. BidaskClub upgraded Renewable Energy Group from a hold rating to a buy rating in a research note on Saturday, October 5th. Finally, ValuEngine raised 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 hold rating, five have given 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 a consensus target price of $29.75.

NASDAQ:REGI traded down $0.08 during trading on Wednesday, reaching $15.61. The company’s stock had a trading volume of 399,271 shares, compared to its average volume of 868,704. The firm has a market cap of $600.73 million, a price-to-earnings ratio of 2.30 and a beta of 1.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.58 and a current ratio of 1.14. The firm has a 50 day moving average of $13.96 and a 200-day moving average of $16.28. Renewable Energy Group has a 12 month low of $9.90 and a 12 month high of $32.52.

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 analysts’ consensus estimates of ($0.59) by ($0.92). The business had revenue of $560.64 million during the quarter, compared to the consensus estimate of $572.93 million. Renewable Energy Group had a negative net margin of 2.88% and a negative return on equity of 5.90%. Equities research analysts forecast that Renewable Energy Group will post -2.17 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc purchased a new position in Renewable Energy Group during the first quarter valued at $198,000. AlphaCrest Capital Management LLC bought a new stake in shares of Renewable Energy Group in the first quarter worth $497,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Renewable Energy Group in the first quarter worth $373,000. OppenheimerFunds Inc. grew its holdings in shares of Renewable Energy Group by 3.4% in the first quarter. OppenheimerFunds Inc. now owns 770,075 shares of the oil and gas company’s stock worth $16,911,000 after acquiring an additional 25,370 shares during the period. Finally, Hancock Whitney Corp grew its holdings in Renewable Energy Group by 109.4% during the first quarter. Hancock Whitney Corp now owns 42,390 shares of the oil and gas company’s stock valued at $931,000 after purchasing an additional 22,145 shares during the period.

Renewable Energy Group Company Profile

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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