Zacks Investment Research upgraded shares of Renewable Energy Group (NASDAQ:REGI) from a hold rating to a buy rating in a research note released on Saturday morning. The brokerage currently has $23.00 target price 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. “

Other equities analysts also recently issued research reports about the company. Roth Capital set a $25.00 price target on Renewable Energy Group and gave the stock a buy rating in a research report on Tuesday, August 7th. Canaccord Genuity increased their price objective on Renewable Energy Group from $20.00 to $21.00 and gave the company a buy rating in a report on Tuesday, August 7th. BidaskClub downgraded Renewable Energy Group from a strong-buy rating to a buy rating in a report on Wednesday, June 13th. Finally, ValuEngine raised Renewable Energy Group from a hold rating to a buy rating in a report on Monday, May 14th. 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 stock currently has an average rating of Buy and an average price target of $20.50.

Renewable Energy Group traded up $0.80, reaching $21.05, during trading hours on Friday, Marketbeat.com reports. 1,133,737 shares of the stock were exchanged, compared to its average volume of 639,317. Renewable Energy Group has a twelve month low of $9.50 and a twelve month high of $21.50. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 0.04. The company has a market cap of $755.63 million, a P/E ratio of 3.79 and a beta of 0.91.

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

In other news, VP Gary Haer sold 9,830 shares of the stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $17.84, for a total value of $175,367.20. Following the completion of the sale, the vice president now owns 110,016 shares of the company’s stock, valued at approximately $1,962,685.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.97% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in Renewable Energy Group by 5,920.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,646 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 7,519 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Renewable Energy Group in the 2nd quarter valued at $138,000. Susquehanna Fundamental Investments LLC bought a new stake in Renewable Energy Group in the 1st quarter valued at $131,000. Sun Life Financial INC bought a new stake in Renewable Energy Group in the 2nd quarter valued at $198,000. Finally, State of Alaska Department of Revenue bought a new stake in Renewable Energy Group in the 2nd quarter valued at $197,000.

Renewable Energy Group Company Profile

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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