The analysts wrote, “Following 4Q12 results that beat our expectations, we are modestly increasing our estimates to incorporate what appears to be improving supply and demand in the biodiesel market based on improving RINs values. We are modeling a gradual improvement in RINs values through the year, approaching $1 in the 4Q, where a more significant improvement would provide upside to our model. We believe the uncertainties around the 2014 RVO may weigh on the stock and possibly put downward pressure on RINs values. We believe REGI will continue to improve its margin profile bringing on flexible feedstock technology at new facilities and we reiterate our Overweight rating and $9 price target.”
Shares of Renewable Energy Group traded down 20.39% during mid-day trading on Tuesday, hitting $6.05. Renewable Energy Group has a 52 week low of $4.28 and a 52 week high of $10.65. The stock’s 50-day moving average is currently $7.02. The company has a market cap of $184.7 million and a P/E ratio of 1.27.
Renewable Energy Group last released its earnings data on Monday, March 4th. The company reported $0.00 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.02. The company had revenue of $232.00 million for the quarter, compared to the consensus estimate of $161.07 million. Analysts expect that Renewable Energy Group will post $1.08 EPS 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 Tuesday, February 12th. They now have a $8.40 price target on the stock. Analysts at Canaccord Genuity raised their price target on shares of Renewable Energy Group from $6.50 to $9.00 in a research note to investors on Thursday, January 3rd. They now have a “buy” rating on the stock.
Four investment analysts have rated the stock with a buy rating, and one has assigned a hold rating to the stock. The stock has a consensus rating of “buy” and an average price target of $8.88.
Renewable Energy Group, Inc. is an operator, marketer and distributor of biodiesel. During the year ended December 31, 2006, the Company marketed approximately 78 million gallons of biodiesel.
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