Bank of America Lowers Green Plains (NASDAQ:GPRE) Price Target to $26.00

Green Plains (NASDAQ:GPRE) had its price objective cut by investment analysts at Bank of America from $29.00 to $26.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Bank of America‘s target price suggests a potential upside of 32.79% from the company’s previous close.

Several other equities research analysts have also recently weighed in on GPRE. TheStreet downgraded Green Plains from a “c-” rating to a “d+” rating in a report on Wednesday, February 7th. UBS Group decreased their price target on shares of Green Plains from $33.50 to $31.00 and set a “buy” rating for the company in a research note on Monday, March 4th. BMO Capital Markets dropped their price objective on shares of Green Plains from $25.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday. Craig Hallum decreased their target price on shares of Green Plains from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday. Finally, Truist Financial reiterated a “buy” rating and set a $35.00 target price on shares of Green Plains in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Green Plains presently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

Green Plains Price Performance

GPRE opened at $19.58 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.75 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $21.52 and its 200 day simple moving average is $23.28. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -15.92 and a beta of 1.62. Green Plains has a 1 year low of $18.75 and a 1 year high of $36.02.

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

Insider Activity

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

Institutional Inflows and Outflows

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