Roth Capital Analysts Give Renewable Energy Group, Inc. (REGI) a $17.00 Price Target

Roth Capital set a $17.00 target price on Renewable Energy Group, Inc. (NASDAQ:REGI) in a report published on Wednesday. The brokerage currently has a buy rating on the oil and gas company’s stock.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Renewable Energy Group from a hold rating to a strong-buy rating and set a $14.00 price objective on the stock in a research note on Tuesday, May 9th. Canaccord Genuity raised shares of Renewable Energy Group from a hold rating to a buy rating and boosted their price objective for the stock from $11.00 to $16.00 in a research note on Friday, May 5th. Piper Jaffray Companies set a $13.00 price objective on shares of Renewable Energy Group and gave the stock a hold rating in a research note on Saturday, July 22nd. ValuEngine cut shares of Renewable Energy Group from a strong-buy rating to a buy rating in a research note on Tuesday, August 8th. Finally, BidaskClub cut shares of Renewable Energy Group from a buy rating to a hold rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Renewable Energy Group presently has an average rating of Hold and a consensus target price of $15.00.

Shares of Renewable Energy Group (NASDAQ:REGI) opened at 12.00 on Wednesday. The firm’s market capitalization is $464.27 million. The firm has a 50-day moving average price of $12.03 and a 200-day moving average price of $10.97. Renewable Energy Group has a 52 week low of $7.91 and a 52 week high of $13.39.

Renewable Energy Group (NASDAQ:REGI) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.13. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. The company had revenue of $535.10 million for the quarter, compared to the consensus estimate of $531.88 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Renewable Energy Group will post ($1.56) earnings per share for the current fiscal year.

In other news, Director Christopher D. Sorrells purchased 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were acquired at an average price of $11.14 per share, with a total value of $55,700.00. Following the completion of the transaction, the director now owns 28,146 shares of the company’s stock, valued at approximately $313,546.44. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carlson Capital L. P sold 65,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $12.83, for a total transaction of $833,950.00. The disclosure for this sale can be found here. Insiders own 2.28% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in shares of Renewable Energy Group by 515.0% in the first quarter. Bank of Montreal Can now owns 103,217 shares of the oil and gas company’s stock worth $1,078,000 after buying an additional 86,433 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Renewable Energy Group during the first quarter worth approximately $929,000. Oxford Asset Management purchased a new stake in shares of Renewable Energy Group during the first quarter worth approximately $3,225,000. Geode Capital Management LLC boosted its stake in shares of Renewable Energy Group by 6.9% in the first quarter. Geode Capital Management LLC now owns 291,676 shares of the oil and gas company’s stock worth $3,048,000 after buying an additional 18,869 shares during the period. Finally, Thomson Horstmann & Bryant Inc. boosted its stake in shares of Renewable Energy Group by 41.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 615,956 shares of the oil and gas company’s stock worth $7,976,000 after buying an additional 179,714 shares during the period.

About Renewable Energy Group

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.