Roth Capital Reiterates Buy on Renewable Energy Group Following Upbeat Q4 Results
Roth Capital analyst Craig Irwin weighed in with a favorable report on Renewable Energy Group Inc (NASDAQ:REGI), after the company released its fourth-quarter results, which were ‘impressive’, according to the analyst, and where the company was able to capture a healthy benefit from the blender’s credit with volumes ahead of expectations at REG-Geismar and a strong finish for production at all facilities.
The analyst rates the stock a Buy with a $17.00 price target, which represents a potential upside of 80.5% from where the stock is currently trading.
Irwin noted, “Performance was well above expectations, partially benefiting from REG’s risk management programs. 1Q15 will be weak due to an inventory effect and an ongoing feedstock cost reset. We expect positive regulatory and other catalysts to drive appreciation in 2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Craig Irwin has a total average return of -6.5% and a 39.2% success rate. Irwin has a -12.4% average return when recommending REGI, and is ranked #3326 out of 3505 analysts.