Craig Hallum Cuts Green Plains (NASDAQ:GPRE) Price Target to $34.00

Green Plains (NASDAQ:GPRE) had its target price decreased by Craig Hallum from $37.00 to $34.00 in a report released on Monday morning, Benzinga reports. Craig Hallum currently has a buy rating on the specialty chemicals company’s stock.

GPRE has been the subject of a number of other research reports. UBS Group cut their target price on shares of Green Plains from $33.50 to $31.00 and set a buy rating for the company in a research report on Monday, March 4th. BMO Capital Markets dropped their target price on Green Plains from $25.00 to $22.00 and set a market perform rating on the stock in a research report on Monday. The Goldman Sachs Group lowered their price target on Green Plains from $39.00 to $34.00 and set a buy rating for the company in a research note on Tuesday, January 30th. Roth Mkm reduced their target price on shares of Green Plains from $55.00 to $40.00 and set a buy rating for the company in a research note on Monday. Finally, TheStreet downgraded shares of Green Plains from a c- rating to a d+ rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $30.75.

Green Plains Price Performance

Shares of NASDAQ:GPRE opened at $19.58 on Monday. The company has a market cap of $1.27 billion, a P/E ratio of -15.92 and a beta of 1.62. The company’s fifty day moving average is $21.52 and its two-hundred day moving average is $23.28. The company has a quick ratio of 1.18, a current ratio of 1.75 and a debt-to-equity ratio of 0.54. Green Plains has a 12-month low of $18.75 and a 12-month high of $36.02.

Green Plains (NASDAQ:GPRE) last posted its quarterly earnings results on Friday, May 3rd. The specialty chemicals company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.48). Green Plains had a negative net margin of 2.43% and a negative return on equity of 7.86%. The business had revenue of $597.20 million for the quarter, compared to analyst estimates of $654.40 million. During the same period in the previous year, the firm posted ($1.20) earnings per share. The firm’s quarterly revenue was down 28.3% on a year-over-year basis. Equities analysts expect that Green Plains will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Green Plains

In other news, Director Ejnar A. Knudsen III bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average cost of $24.73 per share, for a total transaction of $98,920.00. Following the completion of the purchase, the director now owns 40,913 shares of the company’s stock, valued at approximately $1,011,778.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Green Plains

Several hedge funds and other institutional investors have recently modified their holdings of GPRE. Quest Partners LLC bought a new stake in Green Plains during the fourth quarter worth about $26,000. Covestor Ltd lifted its position in Green Plains by 50.4% during the 3rd quarter. Covestor Ltd now owns 2,546 shares of the specialty chemicals company’s stock worth $76,000 after buying an additional 853 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Green Plains in the fourth quarter worth about $88,000. iA Global Asset Management Inc. bought a new stake in shares of Green Plains during the third quarter valued at approximately $164,000. Finally, Cape Investment Advisory Inc. bought a new position in Green Plains in the 4th quarter worth approximately $196,000.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.