Green Plains (NASDAQ:GPRE) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Green Plains shares hit a new 52-week high after UBS Group raised its price target from $12 to $20, though the firm kept a neutral rating. The stock traded as high as $19.65, up sharply from the prior close of $17.21.
• Analysts remain mixed on the stock overall, with recent target increases from BMO Capital and Oppenheimer but rating cuts from Wall Street Zen and Zacks. MarketBeat data shows Green Plains now has an average Hold rating and a $15.43 price target.
• The company’s latest quarterly results beat EPS expectations, reporting $0.42 per share versus a consensus loss estimate, but revenue came in below forecasts and fell 25.9% year over year. Green Plains is a fuel-grade ethanol producer with a market cap of about $1.35 billion.

Green Plains, Inc. (NASDAQ:GPRE - Get Free Report) shares reached a new 52-week high during mid-day trading on Saturday after UBS Group raised their price target on the stock from $12.00 to $20.00. UBS Group currently has a neutral rating on the stock. Green Plains traded as high as $19.65 and last traded at $19.23, with a volume of 5146703 shares. The stock had previously closed at $17.21.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Green Plains from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Wednesday, March 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Green Plains in a report on Tuesday, April 21st. Oppenheimer reiterated an "outperform" rating and issued a $20.00 price objective on shares of Green Plains in a research report on Friday, May 8th. Wall Street Zen cut Green Plains from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 12th. Finally, Zacks Research cut Green Plains from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Green Plains currently has an average rating of "Hold" and an average price target of $15.43.

Hedge Funds Weigh In On Green Plains

Institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. bought a new stake in Green Plains during the 3rd quarter valued at approximately $8,561,000. BNP Paribas Financial Markets grew its holdings in shares of Green Plains by 112.6% during the 4th quarter. BNP Paribas Financial Markets now owns 1,823,740 shares of the specialty chemicals company's stock worth $17,873,000 after acquiring an additional 966,069 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Green Plains by 155.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,114,743 shares of the specialty chemicals company's stock worth $18,338,000 after acquiring an additional 678,515 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Green Plains by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 4,696,401 shares of the specialty chemicals company's stock worth $46,025,000 after acquiring an additional 645,170 shares in the last quarter. Finally, Thomist Capital Management LP lifted its stake in shares of Green Plains by 619.8% in the 4th quarter. Thomist Capital Management LP now owns 747,192 shares of the specialty chemicals company's stock valued at $7,270,000 after purchasing an additional 643,392 shares during the period.

Green Plains Trading Up 11.7%

The company has a current ratio of 1.71, a quick ratio of 1.27 and a debt-to-equity ratio of 0.49. The company has a market cap of $1.35 billion, a PE ratio of -58.27 and a beta of 1.19. The stock has a 50 day moving average price of $15.79 and a 200 day moving average price of $14.73.

Green Plains (NASDAQ:GPRE - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The specialty chemicals company reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.43. The company had revenue of $445.80 million for the quarter, compared to analysts' expectations of $532.53 million. Green Plains had a positive return on equity of 2.86% and a negative net margin of 0.80%.The firm's revenue for the quarter was down 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.14) earnings per share. Sell-side analysts predict that Green Plains, Inc. will post 2.1 EPS for the current fiscal year.

About Green Plains

Green Plains Inc is a leading producer of fuel-grade ethanol and related co-products in the United States. Headquartered in Omaha, Nebraska, the company operates an integrated network of biorefineries that convert corn and other grains into renewable fuels. Through its production facilities, Green Plains supplies ethanol to domestic fuel markets and export channels, supporting efforts to reduce greenhouse gas emissions and promote cleaner-burning transportation options.

Beyond ethanol, Green Plains manufactures a range of co-products that add value throughout the agricultural supply chain.

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