Renewable Energy Group (NASDAQ:REGI) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Renewable Energy Group (NASDAQ:REGIGet Rating) from a hold rating to a strong-buy rating in a research note released on Friday, Zacks.com reports. The brokerage currently has $70.00 price target on the oil and gas company’s stock.

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 equities analysts also recently issued reports on REGI. Raymond James reissued a market perform rating on shares of Renewable Energy Group in a research note on Friday, March 4th. Piper Sandler cut their price objective on shares of Renewable Energy Group from $96.00 to $73.00 in a report on Tuesday, January 25th. Citigroup cut their price objective on shares of Renewable Energy Group from $75.00 to $61.50 and set a neutral rating on the stock in a report on Thursday, March 3rd. Cowen cut shares of Renewable Energy Group from an outperform rating to a market perform rating and cut their price objective for the stock from $75.00 to $61.50 in a report on Thursday, March 10th. Finally, Truist Financial cut shares of Renewable Energy Group from a buy rating to a hold rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Renewable Energy Group currently has an average rating of Hold and a consensus target price of $70.46.

REGI stock opened at $61.15 on Friday. Renewable Energy Group has a 1 year low of $32.54 and a 1 year high of $73.64. The company has a market cap of $3.08 billion, a P/E ratio of 16.39 and a beta of 0.57. The firm has a 50-day moving average of $60.92 and a 200 day moving average of $51.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.14 and a quick ratio of 3.35.

Renewable Energy Group (NASDAQ:REGIGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.54). Renewable Energy Group had a return on equity of 11.00% and a net margin of 5.12%. The company had revenue of $936.00 million during the quarter, compared to the consensus estimate of $722.57 million. During the same period in the previous year, the company earned $0.88 earnings per share. Renewable Energy Group’s quarterly revenue was up 73.4% on a year-over-year basis. On average, equities research analysts expect that Renewable Energy Group will post 3.75 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of REGI. Retirement Group LLC purchased a new stake in shares of Renewable Energy Group during the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Renewable Energy Group by 433.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,040 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 845 shares during the last quarter. City State Bank purchased a new stake in Renewable Energy Group in the fourth quarter worth approximately $44,000. Neo Ivy Capital Management purchased a new stake in Renewable Energy Group in the fourth quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in Renewable Energy Group by 360.0% in the third quarter. First Horizon Advisors Inc. now owns 391 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.

Renewable Energy Group Company Profile (Get Rating)

Renewable Energy Group, Inc provides lower carbon transportation fuels in the United States and internationally. The company utilizes a production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Bio-Based Diesel, Services, and Corporate and Other segments.

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