Zacks Investment Research Downgrades Renewable Energy Group (NASDAQ:REGI) to Strong Sell

Renewable Energy Group (NASDAQ:REGI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday, 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. “

A number of other analysts have also issued reports on the company. BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Piper Jaffray Companies set a $195.00 price target on Cummins and gave the stock a “buy” rating in a research note on Thursday, April 4th. Roth Capital reaffirmed a “buy” rating on shares of Village Farms International in a research note on Monday, June 24th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, TheStreet lowered Viewray from a “c-” rating to a “d” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Renewable Energy Group currently has an average rating of “Hold” and a consensus target price of $28.40.



Renewable Energy Group stock opened at $15.55 on Friday. The stock has a market capitalization of $584.96 million, a PE ratio of 18.08 and a beta of 1.21. Renewable Energy Group has a 12 month low of $13.40 and a 12 month high of $32.52. The firm has a 50 day simple moving average of $15.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.27 and a quick ratio of 0.72.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported ($1.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.41). The business had revenue of $478.21 million during the quarter, compared to analysts’ expectations of $480.79 million. Renewable Energy Group had a net margin of 1.52% and a return on equity of 6.23%. Equities analysts forecast that Renewable Energy Group will post 0.06 EPS for the current fiscal year.

In other Renewable Energy Group news, VP Gary Haer sold 11,679 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $16.87, for a total transaction of $197,024.73. Following the transaction, the vice president now owns 48,860 shares of the company’s stock, valued at $824,268.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia J. Warner acquired 4,000 shares of the stock in a transaction on Monday, June 17th. The shares were bought at an average cost of $14.16 per share, for a total transaction of $56,640.00. Following the purchase, the insider now directly owns 62,578 shares of the company’s stock, valued at approximately $886,104.48. The disclosure for this purchase can be found here. Insiders have sold 41,354 shares of company stock worth $675,434 in the last three months. 3.01% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Renewable Energy Group by 3.9% in the 4th quarter. BlackRock Inc. now owns 5,879,109 shares of the oil and gas company’s stock valued at $151,092,000 after purchasing an additional 222,662 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Renewable Energy Group by 20.6% in the 4th quarter. Bank of New York Mellon Corp now owns 550,199 shares of the oil and gas company’s stock valued at $14,140,000 after purchasing an additional 93,927 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Renewable Energy Group by 8.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 51,965 shares of the oil and gas company’s stock valued at $1,234,000 after purchasing an additional 4,053 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Renewable Energy Group by 5.8% in the 4th quarter. United Services Automobile Association now owns 171,224 shares of the oil and gas company’s stock valued at $4,400,000 after purchasing an additional 9,372 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Renewable Energy Group by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 305,581 shares of the oil and gas company’s stock valued at $7,853,000 after purchasing an additional 3,496 shares during 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.

Further Reading: Earnings Per Share (EPS)

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