Green Plains' (GPRE) Underperform Rating Reiterated at Bank of America

Key Points

• Bank of America has reiterated its "underperform" rating for Green Plains (GPRE) with a new price target of $7.00, indicating a potential downside of 24% from the stock's previous close.
• Green Plains recently reported a loss of $0.41 per share for the quarter, missing analysts' consensus estimates, alongside a 10.7% decline in year-over-year revenue.
• Research ratings for Green Plains show a mix, with two analysts rating it as a sell, four as hold, and one as buy, leading to an average target price of $7.80.

Green Plains (NASDAQ:GPRE - Get Free Report)'s stock had its "underperform" rating reiterated by equities researchers at Bank of America in a research report issued on Thursday,Benzinga reports. They presently have a $7.00 price target on the specialty chemicals company's stock, up from their previous price target of $4.50. Bank of America's price target would indicate a potential downside of 24.00% from the stock's previous close.

Separately, BMO Capital Markets lowered their price objective on shares of Green Plains from $8.00 to $7.00 and set a "market perform" rating for the company in a research report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $7.80.

Green Plains Stock Performance

Shares of GPRE opened at $9.21 on Thursday. The firm has a 50-day moving average of $6.91 and a 200-day moving average of $5.76. Green Plains has a one year low of $3.14 and a one year high of $14.67. The company has a market cap of $603.90 million, a PE ratio of -3.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 0.81.

Green Plains (NASDAQ:GPRE - Get Free Report) last posted its earnings results on Monday, August 11th. The specialty chemicals company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.13). Green Plains had a negative return on equity of 13.65% and a negative net margin of 6.34%. The company had revenue of $552.83 million for the quarter, compared to analyst estimates of $578.18 million. During the same quarter in the prior year, the business posted ($0.38) EPS. The business's quarterly revenue was down 10.7% compared to the same quarter last year. As a group, equities analysts forecast that Green Plains will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Green Plains

Large investors have recently modified their holdings of the business. Dauntless Investment Group LLC purchased a new position in Green Plains during the fourth quarter valued at approximately $54,000. Public Employees Retirement System of Ohio boosted its stake in Green Plains by 46.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,789 shares of the specialty chemicals company's stock worth $35,000 after purchasing an additional 1,838 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Green Plains during the 4th quarter valued at about $72,000. PNC Financial Services Group Inc. lifted its stake in shares of Green Plains by 54.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,503 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 3,002 shares during the period. Finally, AlphaQuest LLC increased its holdings in Green Plains by 115.2% in the 1st quarter. AlphaQuest LLC now owns 8,981 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 4,808 shares in the last quarter.

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.

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