Green Plains (NASDAQ:GPRE) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Wednesday, Zacks.com reports.
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. "
GPRE has been the subject of a number of other reports. Craig Hallum dropped their price target on Green Plains from $20.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. Jefferies Financial Group raised Green Plains from a "hold" rating to a "buy" rating and increased their price target for the company from $7.00 to $16.00 in a research note on Wednesday, May 20th. BidaskClub lowered Green Plains from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. ValuEngine lowered Green Plains from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 21st. Finally, BMO Capital Markets lowered their price objective on Green Plains from $25.00 to $13.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of "Buy" and an average price target of $12.17.
NASDAQ GPRE opened at $10.22 on Wednesday. The firm has a market cap of $353.34 million, a price-to-earnings ratio of -2.70 and a beta of 2.06. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $8.98 and a 200-day moving average price of $9.83. Green Plains has a twelve month low of $3.77 and a twelve month high of $16.49.
Green Plains (NASDAQ:GPRE) last announced its quarterly earnings results on Monday, May 4th. The specialty chemicals company reported ($1.06) EPS for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.19). Green Plains had a negative net margin of 4.88% and a negative return on equity of 10.92%. The firm had revenue of $632.87 million for the quarter, compared to the consensus estimate of $700.00 million. Research analysts expect that Green Plains will post -1.45 EPS for the current fiscal year.
In other news, insider Michelle Mapes sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $10.09, for a total value of $50,450.00. Following the completion of the sale, the insider now directly owns 46,391 shares of the company's stock, valued at approximately $468,085.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Green Plains in the first quarter worth approximately $425,000. Alberta Investment Management Corp purchased a new stake in shares of Green Plains in the first quarter worth approximately $135,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Green Plains by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,005 shares of the specialty chemicals company's stock worth $82,000 after buying an additional 5,547 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Green Plains by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 898,039 shares of the specialty chemicals company's stock worth $13,857,000 after buying an additional 14,256 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Green Plains by 1,385.9% in the fourth quarter. Citigroup Inc. now owns 84,862 shares of the specialty chemicals company's stock worth $1,310,000 after buying an additional 79,151 shares during the period. Hedge funds and other institutional investors own 99.68% of the company's stock.
Green Plains Company Profile
Green Plains Inc produces, markets, and distributes ethanol in the United States and internationally. The company operates in four segments: Ethanol Production; Agribusiness and Energy Services; Food and Ingredients; and Partnership. The Ethanol Production segment produces and sells ethanol, distiller grains, and corn oil.
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