BMO Capital Markets Cuts Green Plains (NASDAQ:GPRE) Price Target to $7.00

Green Plains (NASDAQ:GPRE) had its target price decreased by equities research analysts at BMO Capital Markets from $8.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 52.07% from the stock’s previous close.

Several other brokerages also recently commented on GPRE. StockNews.com downgraded shares of Green Plains from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Bank of America lowered shares of Green Plains from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $4.50 in a report on Tuesday, April 15th. UBS Group lowered shares of Green Plains from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.50 to $7.00 in a report on Tuesday, March 4th. Jefferies Financial Group downgraded shares of Green Plains from a “buy” rating to a “hold” rating and reduced their price objective for the company from $14.00 to $6.00 in a research report on Tuesday, March 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $12.00 price target (down previously from $18.00) on shares of Green Plains in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.93.

Green Plains Stock Performance

Green Plains stock traded up $0.53 during midday trading on Monday, hitting $4.60. The company’s stock had a trading volume of 1,062,920 shares, compared to its average volume of 1,378,748. Green Plains has a 1-year low of $3.14 and a 1-year high of $20.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.48 and a quick ratio of 0.89. The company has a 50-day moving average price of $4.36 and a two-hundred day moving average price of $7.70. The company has a market cap of $312.48 million, a price-to-earnings ratio of -3.36 and a beta of 1.19.

Green Plains (NASDAQ:GPRE) last posted its earnings results on Thursday, May 8th. The specialty chemicals company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.37). Green Plains had a negative return on equity of 11.88% and a negative net margin of 3.36%. The business had revenue of $601.52 million for the quarter, compared to the consensus estimate of $605.62 million. During the same period in the previous year, the firm earned ($0.81) earnings per share. The company’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts predict that Green Plains will post -0.5 earnings per share for the current year.

Institutional Trading of Green Plains

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of Green Plains by 71.5% during the 3rd quarter. Barclays PLC now owns 142,851 shares of the specialty chemicals company’s stock worth $1,935,000 after purchasing an additional 59,564 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Green Plains by 1,122.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 704,125 shares of the specialty chemicals company’s stock worth $6,675,000 after acquiring an additional 646,507 shares during the period. SG Americas Securities LLC raised its holdings in shares of Green Plains by 4.1% during the 4th quarter. SG Americas Securities LLC now owns 37,479 shares of the specialty chemicals company’s stock worth $355,000 after acquiring an additional 1,488 shares during the period. Inspire Investing LLC raised its holdings in Green Plains by 39.8% in the 4th quarter. Inspire Investing LLC now owns 46,241 shares of the specialty chemicals company’s stock valued at $438,000 after buying an additional 13,154 shares during the period. Finally, KBC Group NV raised its holdings in Green Plains by 120.7% in the 4th quarter. KBC Group NV now owns 6,071 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 3,320 shares during the period.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.