Green Plains, Inc. (NASDAQ:GPRE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, July 10th.
According to Zacks, “Green Plains Inc. is vertically integrated producer, marketer and distributer of ethanol. The company operates through four segments: Ethanol Production, Corn Oil Production, Agribusiness, and Marketing and Distribution. It produces ethanol and co-products, such as wet, modified wet or dried distillers grains, as well as extracts non-edible corn oil. The company is also involved in buying and selling bulk grain primarily corn and soybeans. Green Plains Inc., formerly known as Green Plains Renewable Energy, Inc., is headquartered in Omaha, Nebraska. “
A number of other analysts have also recently issued reports on GPRE. Credit Suisse Group reduced their price objective on shares of Green Plains from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, March 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $30.00 target price on shares of Green Plains in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Green Plains in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Green Plains presently has an average rating of “Buy” and a consensus target price of $29.86.
Green Plains (NASDAQ GPRE) remained flat at $18.95 during mid-day trading on Monday. 601,369 shares of the stock traded hands. The stock has a market capitalization of $758.19 million, a price-to-earnings ratio of 23.11 and a beta of 1.42. The company has a 50-day moving average of $20.80 and a 200 day moving average of $22.95. Green Plains has a 1-year low of $18.65 and a 1-year high of $29.85.
Green Plains (NASDAQ:GPRE) last announced its earnings results on Monday, May 1st. The specialty chemicals company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.09. Green Plains had a net margin of 0.88% and a return on equity of 3.25%. The business had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $920.45 million. During the same period in the prior year, the company earned ($0.63) earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. Equities analysts predict that Green Plains will post $0.69 earnings per share for the current fiscal year.
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In other news, Director Alain Treuer sold 25,900 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $19.51, for a total transaction of $505,309.00. Following the completion of the sale, the director now owns 336,008 shares of the company’s stock, valued at $6,555,516.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James F. Crowley sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $21.92, for a total transaction of $43,840.00. Following the completion of the sale, the director now directly owns 23,209 shares of the company’s stock, valued at approximately $508,741.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,903 shares of company stock valued at $1,932,599. Company insiders own 6.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in Green Plains by 3.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,752 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 110 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Green Plains by 85.9% in the second quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock valued at $149,000 after buying an additional 3,369 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Green Plains by 2.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,150 shares of the specialty chemicals company’s stock valued at $202,000 after buying an additional 160 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in shares of Green Plains during the first quarter valued at about $204,000. Finally, Mason Street Advisors LLC boosted its stake in shares of Green Plains by 6.5% in the first quarter. Mason Street Advisors LLC now owns 8,303 shares of the specialty chemicals company’s stock valued at $205,000 after buying an additional 506 shares in the last quarter.
Green Plains Company Profile
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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