Green Plains (NASDAQ:GPRE) Given New $26.00 Price Target at Bank of America

Green Plains (NASDAQ:GPRE) had its target price reduced by Bank of America from $29.00 to $26.00 in a research report report published on Tuesday morning, Benzinga reports. Bank of America currently has a buy rating on the specialty chemicals company’s stock.

A number of other brokerages have also weighed in on GPRE. Roth Mkm decreased their price objective on shares of Green Plains from $55.00 to $40.00 and set a buy rating for the company in a report on Monday. StockNews.com lowered shares of Green Plains from a hold rating to a sell rating in a report on Monday. Craig Hallum decreased their price objective on shares of Green Plains from $37.00 to $34.00 and set a buy rating for the company in a report on Monday. BMO Capital Markets decreased their price objective on shares of Green Plains from $25.00 to $22.00 and set a market perform rating for the company in a report on Monday. Finally, Truist Financial restated a buy rating and issued a $35.00 price objective on shares of Green Plains in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Green Plains has a consensus rating of Moderate Buy and a consensus target price of $30.75.

Green Plains Price Performance

GPRE stock opened at $19.28 on Tuesday. The firm has a 50 day moving average price of $21.56 and a 200-day moving average price of $23.31. Green Plains has a 52-week low of $19.27 and a 52-week high of $36.02. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -15.67 and a beta of 1.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.75.

Green Plains (NASDAQ:GPRE) last released 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 net margin of 2.43% and a negative return on equity of 7.86%. The business had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $654.40 million. During the same quarter in the previous year, the business posted ($1.20) earnings per share. Green Plains’s revenue for the quarter was down 28.3% on a year-over-year basis. Equities research analysts forecast that Green Plains will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ejnar A. Knudsen III bought 4,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $24.73 per share, with a total value of $98,920.00. Following the transaction, the director now owns 40,913 shares in the company, valued at approximately $1,011,778.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Green Plains

Hedge funds have recently modified their holdings of the business. Quest Partners LLC bought a new stake in shares of Green Plains during the 4th quarter valued at $26,000. Covestor Ltd grew its position in shares of 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 bought a new stake in shares of Green Plains during the 4th quarter valued at $88,000. iA Global Asset Management Inc. bought a new stake in shares of Green Plains during the 3rd quarter valued at $164,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Green Plains during the 4th quarter valued at $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.