Renewable Energy Group (NASDAQ:REGI) Authorizes Stock Buyback Program

Renewable Energy Group (NASDAQ:REGI) announced that its board has initiated a share buyback plan, which allows the company to repurchase $75.00 million in shares on Thursday, December 14th, EventVestor reports. This repurchase authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Shares of Renewable Energy Group (NASDAQ:REGI) traded up $0.30 during mid-day trading on Thursday, reaching $11.30. The company had a trading volume of 181,682 shares, compared to its average volume of 426,523. The company has a market cap of $429.10, a price-to-earnings ratio of -10.37, a P/E/G ratio of 0.39 and a beta of 1.48. Renewable Energy Group has a twelve month low of $8.25 and a twelve month high of $13.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.17.

Renewable Energy Group (NASDAQ:REGI) last announced its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. The firm had revenue of $627.00 million for the quarter, compared to the consensus estimate of $513.88 million. Renewable Energy Group had a positive return on equity of 0.38% and a negative net margin of 1.96%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. sell-side analysts anticipate that Renewable Energy Group will post -1.63 earnings per share for the current fiscal year.

Several research firms recently weighed in on REGI. BidaskClub cut Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research raised Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Renewable Energy Group in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.33.

In other Renewable Energy Group news, Director Peter John Martin Harding acquired 5,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were bought at an average cost of $11.14 per share, with a total value of $55,700.00. Following the purchase, the director now directly owns 64,136 shares of the company’s stock, valued at $714,475.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.54% of the stock is owned by insiders.

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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.

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