Renewable Energy Group (NASDAQ:REGI) Stock Rating Downgraded by Zacks Investment Research
Renewable Energy Group (NASDAQ: REGI – Get Assessment) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Wednesday, Zacks.com reports.
According to Zacks, “Renewable Energy Group, Inc. produces and sells renewable biofuels and chemicals in the United States. It operates through Biomass-Based Diesel, Services, Renewable Chemicals, Corporate and Other segments. raw materials, 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 biomass-based diesel, petroleum-based diesel, renewable IDs and raw materials raw materials acquired from third parties and sale of glycerin, free fatty acids, naphtha and other co-products of the process biomass-based diesel generation facilities. The Services segment provides management and operation services of biomass-based diesel generation facilities, as well as other clean technology companies. This segment also offers construction management services for biomass-based diesel generation facilities. REG is committed to being a leading long-term partner in bio-based fuels and chemicals. “
REGI has been the subject of several other research reports. Citigroup lowered its price target on Renewable Energy Group shares from $75.00 to $61.50 and set a “neutral” rating for the company in a Thursday, March 3 research report. Cowen downgraded Renewable Energy Group from an “outperforming” rating to a “market performing” rating and lowered its price target for the company from $75.00 to $61.50 in a Thursday 10 report. March. Raymond James rephrased a “market performance” rating on Renewable Energy Group shares in a Friday, March 4 report. Truist Financial upgraded Renewable Energy Group from a “buy” to a “hold” rating in a Wednesday, March 2 research note. Finally, Piper Sandler cut her price target on Renewable Energy Group shares from $96.00 to $73.00 in a Tuesday, January 25 report. Two analysts gave the stock a sell rating, seven issued a hold rating and four issued a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.10.
Shares of REGI opened at $60.73 on Wednesday. The stock’s fifty-day simple moving average is $47.06 and its 200-day simple moving average is $48.87. The company has a quick ratio of 4.23, a current ratio of 6.07 and a debt ratio of 0.31. The company has a market capitalization of $3.06 billion, a PE ratio of 13.93 and a beta of 0.59. Renewable Energy Group has a 12-month low of $32.54 and a 12-month high of $73.64.
Renewable Energy Group (NASDAQ:REGI – Get Rating) last released its results on Tuesday, March 1. The oil and gas company reported earnings per share (EPS) of $1.03 for the quarter, beating consensus analyst estimates of $0.83 by $0.20. Renewable Energy Group achieved a net margin of 6.55% and a return on equity of 12.88%. In the same quarter a year earlier, the company posted EPS of $0.60. Analysts expect Renewable Energy Group to post EPS of 3.47 for the current year.
Institutional investors have recently increased or reduced their stake in the company. Amalgamated Bank increased its holdings of Renewable Energy Group shares by 1.0% during the third quarter. Amalgamated Bank now owns 23,273 shares in the oil and gas company worth $1,168,000 after acquiring an additional 240 shares during the period. Banco Bilbao Vizcaya Argentaria SA increased its stake in Renewable Energy Group by 3.0% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria SA now owns 8,951 shares in the oil and gas company worth $449,000 after buying 257 more shares last quarter. FIL Ltd increased its stake in the shares of Renewable Energy Group by 13.6% in the 3rd quarter. FIL Ltd now owns 2,257 shares in the oil and gas company valued at $113,000 after buying an additional 270 shares during the period. Maryland State Retirement & Pension System increased its holdings of Renewable Energy Group stock 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 20,041 shares of the oil and gas company valued at $851,000 after buying 275 additional shares last quarter. Finally, the State Board of Administration of Florida Retirement System increased its position in Renewable Energy Group shares by 1.5% during the third quarter. The Florida Retirement System State Board of Directors now owns 19,031 shares of the oil and gas company worth $955,000 after purchasing an additional 280 shares during the period. Institutional investors hold 92.49% of the company’s shares.
Renewable Energy Group Company Profile (Get a rating)
Renewable Energy Group, Inc is a holding company engaged in the production and trading of renewable biofuels and chemicals. It operates through the following segments: Biomass-based Diesel and Services. The Biomass Diesel segment converts waste vegetable oils, animal fats, virgin vegetable oils and other raw materials and methanol into biomass diesel.
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