Canaccord Genuity lowered shares of Renewable Energy Group (NASDAQ:REGI) from a buy rating to a hold rating in a research report released on Monday morning, TheFlyOnTheWall.com reports. Canaccord Genuity currently has $14.00 price objective on the stock.
Canaccord Genuity has also updated their ratings on a number of other energy stocks in the last week. The firm initiated coverage on shares of Gastar Exploration Ltd.. They issued a buy rating on that stock. Also, Canaccord Genuity lowered its price target on shares of Endeavour International Corp. from $6.50 to $5.00. They have a hold rating on that stock.
Shares of Renewable Energy Group (NASDAQ:REGI) traded down 0.44% during mid-day trading on Monday, hitting $11.37. The stock had a trading volume of 384,655 shares. Renewable Energy Group has a one year low of $5.15 and a one year high of $16.50. The stock has a 50-day moving average of $13.33 and a 200-day moving average of $14.02. The company has a market cap of $414.4 million and a P/E ratio of 2.82.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.60. The company had revenue of $458.40 million for the quarter, compared to the consensus estimate of $363.24 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. On average, analysts predict that Renewable Energy Group will post $4.87 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Renewable Energy Group from a neutral rating to an outperform rating in a research note to investors on Monday, November 11th. They now have a $14.00 price target on the stock. Separately, analysts at Wedbush raised their price target on shares of Renewable Energy Group from $17.00 to $18.00 in a research note to investors on Wednesday, November 6th. They now have an outperform rating on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of Renewable Energy Group from a hold rating to a sell rating in a research note to investors on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $15.20.
Renewable Energy Group, Inc is a producer of biodiesel in the United States. The Company is engaged in each aspect of biodiesel production, from acquiring feedstock, managing construction and operating biodiesel production facilities to marketing, selling and distributing biodiesel and its co-products.
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