Renewable Energy Group, Inc. (REGI) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Renewable Energy Group, Inc. (NASDAQ:REGI) from a hold rating to a sell rating in a research note published on Saturday.
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 equities research analysts have also recently commented on REGI. BidaskClub cut Renewable Energy Group from a buy rating to a hold rating in a research note on Monday, July 31st. ValuEngine upgraded Renewable Energy Group from a buy rating to a strong-buy rating in a research note on Friday, July 14th. Piper Jaffray Companies set a $13.00 price target on Renewable Energy Group and gave the company a hold rating in a research note on Saturday, July 22nd. Finally, Roth Capital set a $17.00 price target on Renewable Energy Group and gave the company a buy rating in a research note on Wednesday, August 23rd. 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 stock. The stock has an average rating of Hold and a consensus target price of $15.33.
Shares of Renewable Energy Group (NASDAQ REGI) opened at 12.00 on Friday. The company has a 50-day moving average price of $12.25 and a 200 day moving average price of $11.87. The company’s market capitalization is $464.27 million. Renewable Energy Group has a 12-month low of $8.10 and a 12-month high of $13.55.
Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. The business had revenue of $535.10 million during the quarter, compared to analysts’ expectations of $531.88 million. During the same quarter last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Renewable Energy Group will post ($1.56) earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. purchased a new position in shares of Renewable Energy Group in the second quarter worth about $110,000. Oppenheimer & Co. Inc. purchased a new position in shares of Renewable Energy Group in the second quarter worth 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 worth $143,000 after purchasing an additional 1,668 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Renewable Energy Group in the second quarter worth about $152,000. Finally, Gilbert & Cook Inc. raised its stake in shares of Renewable Energy Group by 1.8% in the second quarter. Gilbert & Cook Inc. now owns 12,623 shares of the oil and gas company’s stock worth $163,000 after purchasing an additional 220 shares during the last quarter.
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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