Renewable Energy Group, Inc. (NASDAQ:REGI) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $52.55, but opened at $57.30. Renewable Energy Group shares last traded at $56.90, with a volume of 14,470 shares traded.
The oil and gas company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.70. Renewable Energy Group had a return on equity of 13.11% and a net margin of 22.72%.
Several brokerages recently commented on REGI. HC Wainwright boosted their price target on Renewable Energy Group from $70.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 4th. Tudor Pickering began coverage on Renewable Energy Group in a research note on Monday, March 15th. They issued a “hold” rating and a $79.00 price target for the company. Cowen began coverage on Renewable Energy Group in a research note on Thursday, April 1st. They issued an “outperform” rating and a $80.00 price target for the company. Zacks Investment Research raised Renewable Energy Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 2nd. Finally, Roth Capital cut Renewable Energy Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $35.00 in a research note on Monday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $83.30.
Institutional investors have recently made changes to their positions in the business. Vantage Consulting Group Inc bought a new stake in Renewable Energy Group during the fourth quarter worth approximately $42,000. Morgan Dempsey Capital Management LLC acquired a new position in shares of Renewable Energy Group during the first quarter worth approximately $71,000. Johnson Midwest Financial LLC lifted its holdings in shares of Renewable Energy Group by 272.1% during the first quarter. Johnson Midwest Financial LLC now owns 1,094 shares of the oil and gas company’s stock worth $72,000 after buying an additional 800 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Renewable Energy Group by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,100 shares of the oil and gas company’s stock worth $78,000 after buying an additional 297 shares during the last quarter. Finally, Bellwether Advisors LLC acquired a new position in shares of Renewable Energy Group during the fourth quarter worth approximately $81,000. 96.21% of the stock is owned by hedge funds and other institutional investors.
The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 4.28 and a beta of 1.19. The business has a fifty day moving average price of $63.31 and a 200 day moving average price of $72.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 2.29.
Renewable Energy Group Company Profile (NASDAQ:REGI)
Renewable Energy Group, Inc provides lower carbon transportation fuels in the United States and internationally. The company utilizes a production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.
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