Renewable Energy Group, Inc. (REGI) PT Set at $13.00 by Piper Jaffray Companies
Piper Jaffray Companies set a $13.00 price objective on Renewable Energy Group, Inc. (NASDAQ:REGI) in a research note issued to investors on Wednesday. The firm currently has a hold rating on the oil and gas company’s stock.
Several other brokerages have also commented on REGI. BidaskClub lowered Renewable Energy Group from a buy rating to a hold rating in a report on Monday, July 31st. Zacks Investment Research lowered Renewable Energy Group from a strong-buy rating to a hold rating in a report on Thursday, July 6th. ValuEngine raised Renewable Energy Group from a buy rating to a strong-buy rating in a report on Friday, July 14th. Roth Capital set a $17.00 price objective on Renewable Energy Group and gave the stock a buy rating in a report on Wednesday, June 14th. Finally, Canaccord Genuity reissued a buy rating and set a $16.00 price objective on shares of Renewable Energy Group in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $15.00.
Renewable Energy Group (NASDAQ:REGI) opened at 12.00 on Wednesday. The firm’s market capitalization is $464.27 million. The company has a 50-day moving average of $12.03 and a 200-day moving average of $10.97. Renewable Energy Group has a 1-year low of $7.91 and a 1-year high of $13.39.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $535.10 million for the quarter, compared to analysts’ expectations of $531.88 million. During the same period in the previous year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Renewable Energy Group will post ($1.56) earnings per share for the current year.
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In other Renewable Energy Group news, major shareholder Carlson Capital L. P sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $12.83, for a total value of $833,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher D. Sorrells bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $11.14 per share, with a total value of $55,700.00. Following the purchase, the director now owns 28,146 shares of the company’s stock, valued at $313,546.44. The disclosure for this purchase can be found here. 2.28% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of REGI. C M Bidwell & Associates Ltd. purchased a new stake in shares of Renewable Energy Group during the second quarter valued at about $110,000. Denver Investment Advisors LLC purchased a new stake in shares of Renewable Energy Group during the first quarter valued at about $113,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Renewable Energy Group during the second quarter valued at about $142,000. Federated Investors Inc. PA raised its stake in shares of Renewable Energy Group by 17.8% in the second quarter. Federated Investors Inc. PA now owns 11,029 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 1,668 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Renewable Energy Group by 155.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 7,160 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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