BidaskClub Upgrades Renewable Energy Group (REGI) to Strong-Buy

Renewable Energy Group (NASDAQ:REGI) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Other analysts have also issued reports about the company. ValuEngine lowered Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. Canaccord Genuity restated a “buy” rating and issued a $16.00 target price on shares of Renewable Energy Group in a research note on Tuesday, March 6th. Finally, Zacks Investment Research upgraded Renewable Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Renewable Energy Group has a consensus rating of “Buy” and an average price target of $14.75.

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Shares of REGI opened at $13.80 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. Renewable Energy Group has a 1 year low of $9.50 and a 1 year high of $14.10.

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

In related news, Director Delbert Christensen acquired 7,441 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were bought at an average cost of $11.60 per share, for a total transaction of $86,315.60. Following the purchase, the director now owns 68,756 shares in the company, valued at approximately $797,569.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter John Martin Harding acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were bought at an average price of $10.94 per share, for a total transaction of $218,800.00. Following the completion of the purchase, the director now owns 73,592 shares in the company, valued at approximately $805,096.48. The disclosure for this purchase can be found here. Insiders own 1.54% of the company’s stock.

Several large investors have recently added to or reduced their stakes in REGI. Nationwide Fund Advisors raised its stake in shares of Renewable Energy Group by 114.0% during the 3rd quarter. Nationwide Fund Advisors now owns 260,294 shares of the oil and gas company’s stock valued at $3,163,000 after purchasing an additional 138,674 shares during the period. Sei Investments Co. raised its stake in shares of Renewable Energy Group by 329.6% during the 3rd quarter. Sei Investments Co. now owns 15,847 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 12,158 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Renewable Energy Group by 67.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 162,447 shares of the oil and gas company’s stock valued at $1,974,000 after purchasing an additional 65,523 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Renewable Energy Group by 12.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 167,528 shares of the oil and gas company’s stock valued at $2,035,000 after purchasing an additional 19,165 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in shares of Renewable Energy Group during the 3rd quarter valued at $548,000.

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Renewable Energy Group Company Profile

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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