Zacks Investment Research upgraded shares of Renewable Energy Group (NASDAQ:REGI) from a sell rating to a hold rating in a report published on Thursday, January 4th.
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. “
A number of other research analysts have also issued reports on REGI. Piper Jaffray Companies reissued a hold rating and issued a $13.00 target price on shares of Renewable Energy Group in a report on Friday, November 3rd. BidaskClub raised Renewable Energy Group from a sell rating to a hold rating in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Renewable Energy Group currently has a consensus rating of Hold and a consensus target price of $15.33.
Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.11. The business had revenue of $627.00 million for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. analysts expect that Renewable Energy Group will post -1.63 earnings per share for the current fiscal year.
Renewable Energy Group announced that its board has authorized a share buyback plan on Thursday, December 14th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Renewable Energy Group news, Director Peter John Martin Harding purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were purchased at an average cost of $11.14 per share, for a total transaction of $55,700.00. Following the completion of the purchase, the director now directly owns 64,136 shares in the company, valued at $714,475.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.54% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Renewable Energy Group by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,265,620 shares of the oil and gas company’s stock valued at $39,677,000 after buying an additional 16,827 shares in the last quarter. DnB Asset Management AS boosted its stake in shares of Renewable Energy Group by 4.7% in the fourth quarter. DnB Asset Management AS now owns 2,626,745 shares of the oil and gas company’s stock valued at $30,996,000 after buying an additional 118,653 shares in the last quarter. Vanguard Group Inc. boosted its position in Renewable Energy Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 1,803,817 shares of the oil and gas company’s stock worth $23,360,000 after purchasing an additional 33,121 shares in the last quarter. Formula Growth Ltd. boosted its position in Renewable Energy Group by 25.0% during the third quarter. Formula Growth Ltd. now owns 956,988 shares of the oil and gas company’s stock worth $11,627,000 after purchasing an additional 191,393 shares in the last quarter. Finally, Rubric Capital Management LP boosted its position in Renewable Energy Group by 512.6% during the third quarter. Rubric Capital Management LP now owns 892,068 shares of the oil and gas company’s stock worth $10,839,000 after purchasing an additional 746,444 shares in the last quarter.
Renewable Energy Group Company Profile
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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