Zacks Investment Research downgraded shares of Renewable Energy Group (NASDAQ:REGI) from a strong-buy rating to a hold rating in a research note released on Wednesday.

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. “

Other equities analysts have also recently issued research reports about the stock. Roth Capital set a $25.00 price target on shares of Renewable Energy Group and gave the stock a buy rating in a research note on Tuesday, August 7th. Canaccord Genuity upped their price target on shares of Renewable Energy Group from $20.00 to $21.00 and gave the stock a buy rating in a research note on Tuesday, August 7th. Finally, BidaskClub cut shares of Renewable Energy Group from a strong-buy rating to a buy rating in a research note on Wednesday, June 13th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $20.50.

Renewable Energy Group stock traded up $0.57 during mid-day trading on Wednesday, reaching $26.96. The stock had a trading volume of 484,595 shares, compared to its average volume of 736,637. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -13.22 and a beta of 1.20. Renewable Energy Group has a one year low of $9.50 and a one year high of $29.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.48 and a quick ratio of 1.06.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.32. The company had revenue of $580.15 million for the quarter, compared to analysts’ expectations of $572.60 million. Renewable Energy Group had a net margin of 8.64% and a return on equity of 32.12%. On average, equities analysts expect that Renewable Energy Group will post 2.07 EPS for the current fiscal year.

In other Renewable Energy Group news, VP Gary Haer sold 13,581 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $20.65, for a total value of $280,447.65. Following the completion of the transaction, the vice president now owns 77,329 shares of the company’s stock, valued at approximately $1,596,843.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eric Bowen sold 6,769 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $27.11, for a total value of $183,507.59. Following the completion of the transaction, the vice president now directly owns 104,452 shares of the company’s stock, valued at approximately $2,831,693.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,350 shares of company stock worth $1,012,955. 1.97% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of REGI. BlackRock Inc. raised its position in Renewable Energy Group by 64.0% in the 2nd quarter. BlackRock Inc. now owns 5,251,969 shares of the oil and gas company’s stock worth $93,749,000 after buying an additional 2,049,773 shares during the last quarter. Millennium Management LLC increased its position in shares of Renewable Energy Group by 5,021.0% during the 1st quarter. Millennium Management LLC now owns 695,642 shares of the oil and gas company’s stock valued at $8,904,000 after purchasing an additional 682,058 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Renewable Energy Group by 2,572.3% during the 2nd quarter. ClariVest Asset Management LLC now owns 362,117 shares of the oil and gas company’s stock valued at $6,465,000 after purchasing an additional 348,566 shares during the last quarter. Luzich Partners LLC purchased a new stake in shares of Renewable Energy Group during the 2nd quarter valued at about $5,355,000. Finally, Bank of New York Mellon Corp increased its position in shares of Renewable Energy Group by 104.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 452,633 shares of the oil and gas company’s stock valued at $8,079,000 after purchasing an additional 230,703 shares during the last quarter.

About Renewable Energy Group

Renewable Energy Group, Inc produces and sells biofuels and renewable chemicals in North America. The company operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It acquires feedstock; and manages construction and operates biomass-based diesel production facilities.

Featured Article: What are the risks of holding treasury bonds?

Get a free copy of the Zacks research report on Renewable Energy Group (REGI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Renewable Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renewable Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.