Renewable Energy Group (REGI) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Renewable Energy Group (NASDAQ:REGI) from a hold rating to a sell rating in a research note released on Monday, BidAskClub reports.

Several other equities analysts have also recently commented on the stock. Piper Jaffray Companies began coverage on shares of Renewable Energy Group in a research report on Thursday, April 4th. They issued an overweight rating and a $35.00 target price for the company. Zacks Investment Research downgraded shares of Renewable Energy Group from a hold rating to a strong sell rating in a report on Tuesday, March 12th. BWS Financial began coverage on shares of Renewable Energy Group in a research report on Wednesday, April 24th. They set a buy rating and a $31.00 price target for the company. Finally, Roth Capital lowered shares of Renewable Energy Group from a buy rating to a neutral rating and cut their target price for the stock from $35.00 to $22.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $28.40.

Renewable Energy Group stock opened at $17.48 on Monday. The firm has a market cap of $667.91 million, a price-to-earnings ratio of 2.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.27 and a quick ratio of 0.72. Renewable Energy Group has a fifty-two week low of $13.05 and a fifty-two week high of $32.52.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported ($1.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.41). The business had revenue of $478.21 million during the quarter, compared to analyst estimates of $480.79 million. Renewable Energy Group had a net margin of 1.52% and a return on equity of 6.23%. Equities analysts forecast that Renewable Energy Group will post 1.13 earnings per share for the current fiscal year.

In other Renewable Energy Group news, Director Delbert Christensen acquired 1,750 shares of the business’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $23.01 per share, with a total value of $40,267.50. Following the transaction, the director now directly owns 76,191 shares of the company’s stock, valued at approximately $1,753,154.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.01% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its position in Renewable Energy Group by 1,606.2% during the fourth quarter. Mackenzie Financial Corp now owns 149,345 shares of the oil and gas company’s stock valued at $3,838,000 after acquiring an additional 140,592 shares in the last quarter. Texas Permanent School Fund lifted its position in Renewable Energy Group by 4.1% during the fourth quarter. Texas Permanent School Fund now owns 24,409 shares of the oil and gas company’s stock worth $627,000 after buying an additional 965 shares in the last quarter. BlackRock Inc. lifted its position in Renewable Energy Group by 3.9% during the fourth quarter. BlackRock Inc. now owns 5,879,109 shares of the oil and gas company’s stock worth $151,092,000 after buying an additional 222,662 shares in the last quarter. Citigroup Inc. lifted its position in Renewable Energy Group by 106.8% during the fourth quarter. Citigroup Inc. now owns 125,722 shares of the oil and gas company’s stock worth $3,231,000 after buying an additional 64,936 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Renewable Energy Group during the fourth quarter worth approximately $3,007,000.

Renewable Energy Group Company Profile

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated 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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