Renewable Energy Group (REGI) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Renewable Energy Group (NASDAQ:REGI) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.

A number of other research firms have also recently commented on REGI. Piper Jaffray Companies reissued a hold rating and issued a $13.00 target price on shares of Renewable Energy Group in a research note on Friday, November 3rd. Zacks Investment Research raised Renewable Energy Group from a sell rating to a hold rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Renewable Energy Group presently has an average rating of Hold and a consensus target price of $15.33.

Renewable Energy Group (NASDAQ REGI) traded up $0.15 during midday trading on Thursday, hitting $11.05. The stock had a trading volume of 236,215 shares, compared to its average volume of 306,849. Renewable Energy Group has a 52-week low of $8.25 and a 52-week high of $13.55. The stock has a market capitalization of $427.51, a PE ratio of 368.33, a P/E/G ratio of 0.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.72.

Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. Renewable Energy Group had a positive return on equity of 0.38% and a negative net margin of 1.96%. The firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $513.88 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. equities research analysts expect that Renewable Energy Group will post -1.63 earnings per share for the current year.

Renewable Energy Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other Renewable Energy Group news, Director Peter John Martin Harding purchased 5,000 shares of the stock in a transaction dated Friday, December 15th. The shares were purchased at an average cost of $11.14 per share, with a total value of $55,700.00. Following the completion of the acquisition, the director now directly owns 64,136 shares in the company, valued at approximately $714,475.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.54% of the company’s stock.

Several large investors have recently made changes to their positions in REGI. Rubric Capital Management LP lifted its holdings in shares of Renewable Energy Group by 512.6% during the third quarter. Rubric Capital Management LP now owns 892,068 shares of the oil and gas company’s stock valued at $10,839,000 after purchasing an additional 746,444 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Renewable Energy Group by 82.3% during the second quarter. Northern Trust Corp now owns 810,886 shares of the oil and gas company’s stock valued at $10,501,000 after purchasing an additional 366,009 shares in the last quarter. Formula Growth Ltd. lifted its holdings in shares of Renewable Energy Group by 87.4% during the second quarter. Formula Growth Ltd. now owns 765,595 shares of the oil and gas company’s stock valued at $9,914,000 after purchasing an additional 357,000 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Renewable Energy Group during the second quarter valued at $3,340,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Renewable Energy Group by 389.2% during the second quarter. New York State Common Retirement Fund now owns 240,235 shares of the oil and gas company’s stock valued at $3,111,000 after purchasing an additional 191,124 shares in the last quarter.

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About Renewable Energy Group

Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services. The Company is a producer of biomass-based diesel in North America. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. It is involved in various activities related to biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities to marketing, selling and distributing biomass-based diesel and its co-products.

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