Renewable Energy Group (NASDAQ:REGI) Rating Increased to Hold at Zacks Investment Research

Renewable Energy Group (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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 several other reports. BWS Financial reissued a “buy” rating on shares of Renewable Energy Group in a report on Friday, September 6th. Roth Capital raised shares of Renewable Energy Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, June 24th. ValuEngine raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, BidaskClub raised shares of Renewable Energy Group from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Renewable Energy Group currently has an average rating of “Buy” and an average price target of $29.75.

Renewable Energy Group stock traded up $0.05 during midday trading on Wednesday, hitting $15.51. The stock had a trading volume of 9,098 shares, compared to its average volume of 702,460. The firm’s fifty day moving average is $13.67 and its two-hundred day moving average is $16.38. The company has a market capitalization of $602.29 million, a PE ratio of 2.28 and a beta of 1.19. Renewable Energy Group has a 52-week low of $9.90 and a 52-week high of $32.52. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.05.

Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($1.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.92). The firm had revenue of $560.64 million during the quarter, compared to analysts’ expectations of $572.93 million. Renewable Energy Group had a negative return on equity of 5.90% and a negative net margin of 2.88%. As a group, equities research analysts predict that Renewable Energy Group will post -2.17 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in REGI. NumerixS Investment Technologies Inc purchased a new stake in Renewable Energy Group during the 1st quarter valued at approximately $198,000. AlphaCrest Capital Management LLC purchased a new position in shares of Renewable Energy Group in the first quarter valued at $497,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Renewable Energy Group in the first quarter valued at $373,000. OppenheimerFunds Inc. grew its holdings in shares of Renewable Energy Group by 3.4% in the first quarter. OppenheimerFunds Inc. now owns 770,075 shares of the oil and gas company’s stock valued at $16,911,000 after purchasing an additional 25,370 shares in the last quarter. Finally, Hancock Whitney Corp grew its holdings in shares of Renewable Energy Group by 109.4% in the first quarter. Hancock Whitney Corp now owns 42,390 shares of the oil and gas company’s stock valued at $931,000 after purchasing an additional 22,145 shares in the last quarter.

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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