Zacks Investment Research Upgrades Renewable Energy Group, Inc. (REGI) to Hold

Renewable Energy Group, Inc. (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “

REGI has been the subject of a number of other research reports. Piper Jaffray Companies set a $13.00 price target on Renewable Energy Group and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Canaccord Genuity raised Renewable Energy Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $11.00 to $16.00 in a research report on Friday, May 5th. BidaskClub downgraded Renewable Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. ValuEngine downgraded Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Roth Capital set a $17.00 price target on Renewable Energy Group and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.00.

Shares of Renewable Energy Group (NASDAQ REGI) opened at 12.05 on Wednesday. The company’s market capitalization is $466.20 million. The company has a 50-day moving average price of $12.03 and a 200-day moving average price of $10.97. Renewable Energy Group has a 12 month low of $7.91 and a 12 month high of $13.39.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.13. The business had revenue of $535.10 million during the quarter, compared to analysts’ expectations of $531.88 million. Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. Renewable Energy Group’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, analysts forecast that Renewable Energy Group will post ($1.56) EPS for the current fiscal year.

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In related news, major shareholder Carlson Capital L. P sold 65,000 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $12.83, for a total value of $833,950.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.28% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REGI. Strategic Wealth Advisors Group LLC acquired a new position in Renewable Energy Group during the second quarter valued at approximately $547,000. Nomura Holdings Inc. boosted its position in Renewable Energy Group by 8.6% in the second quarter. Nomura Holdings Inc. now owns 235,208 shares of the oil and gas company’s stock valued at $3,035,000 after buying an additional 18,714 shares during the period. Bank of Nova Scotia acquired a new position in Renewable Energy Group during the second quarter valued at approximately $1,092,000. C M Bidwell & Associates Ltd. acquired a new position in Renewable Energy Group during the second quarter valued at approximately $110,000. Finally, State Street Corp boosted its position in Renewable Energy Group by 11.8% in the second quarter. State Street Corp now owns 887,932 shares of the oil and gas company’s stock valued at $11,496,000 after buying an additional 94,037 shares during the period.

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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