Renewable Energy Group (REGI) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research cut shares of Renewable Energy Group (NASDAQ:REGI) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday.

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. “

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity increased their target price on shares of Renewable Energy Group from $20.00 to $21.00 and gave the stock a buy rating in a report on Tuesday, August 7th. BidaskClub raised shares of Renewable Energy Group from a sell rating to a hold rating in a report on Saturday, August 4th. Finally, Roth Capital set a $25.00 target price on shares of Renewable Energy Group and gave the stock a buy rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average price target of $20.50.

Renewable Energy Group stock traded up $0.57 during midday trading on Wednesday, hitting $26.96. The stock had a trading volume of 484,595 shares, compared to its average volume of 736,637. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -13.22 and a beta of 1.20. Renewable Energy Group has a 52-week low of $9.50 and a 52-week high of $29.58. The company has a current ratio of 1.48, a quick ratio of 1.06 and a debt-to-equity ratio of 0.04.

Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Monday, August 6th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.32. The company had revenue of $580.15 million during the quarter, compared to analyst estimates of $572.60 million. Renewable Energy Group had a net margin of 8.64% and a return on equity of 32.12%. On average, analysts predict that Renewable Energy Group will post 2.07 EPS for the current year.

In other Renewable Energy Group news, VP Gary Haer sold 13,581 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $20.65, for a total value of $280,447.65. Following the completion of the transaction, the vice president now directly owns 77,329 shares in the company, valued at approximately $1,596,843.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric Bowen sold 6,769 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $27.11, for a total value of $183,507.59. Following the completion of the transaction, the vice president now owns 104,452 shares of the company’s stock, valued at $2,831,693.72. The disclosure for this sale can be found here. Insiders sold a total of 40,350 shares of company stock valued at $1,012,955 over the last 90 days. 1.97% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers boosted its position in shares of Renewable Energy Group by 119.5% during the 2nd quarter. Rhumbline Advisers now owns 83,554 shares of the oil and gas company’s stock valued at $1,491,000 after acquiring an additional 45,489 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Renewable Energy Group by 104.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 76,563 shares of the oil and gas company’s stock valued at $1,367,000 after acquiring an additional 39,068 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Renewable Energy Group by 8.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,495,056 shares of the oil and gas company’s stock valued at $26,687,000 after acquiring an additional 118,756 shares during the last quarter. BlackRock Inc. lifted its position in Renewable Energy Group by 64.0% in the second quarter. BlackRock Inc. now owns 5,251,969 shares of the oil and gas company’s stock worth $93,749,000 after buying an additional 2,049,773 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Renewable Energy Group in the second quarter worth $454,000.

About Renewable Energy Group

Renewable Energy Group, Inc produces and sells biofuels and renewable chemicals in North America. The company operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It acquires feedstock; and manages construction and operates biomass-based diesel production facilities.

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