Bank of America Forecasts Strong Price Appreciation for Green Plains (NASDAQ:GPRE) Stock

Green Plains (NASDAQ:GPRE) had its target price raised by Bank of America from $7.00 to $9.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the specialty chemicals company’s stock. Bank of America‘s target price would suggest a potential downside of 23.86% from the company’s previous close.

Several other brokerages have also recently weighed in on GPRE. Tudor, Pickering, Holt & Co. upgraded Green Plains from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Monday, October 6th. Oppenheimer upgraded Green Plains from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research note on Thursday, August 28th. Zacks Research upgraded Green Plains to a “hold” rating in a research note on Monday, August 11th. Tudor Pickering raised shares of Green Plains from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Green Plains in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Green Plains has an average rating of “Hold” and an average price target of $9.86.

Green Plains Price Performance

Shares of NASDAQ:GPRE opened at $11.82 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.94 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $9.59 and its two-hundred day simple moving average is $6.81. Green Plains has a 1-year low of $3.14 and a 1-year high of $14.04. The stock has a market cap of $775.04 million, a PE ratio of -4.92 and a beta of 1.26.

Green Plains (NASDAQ:GPRE) last issued its quarterly earnings data on Monday, August 11th. The specialty chemicals company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.13). Green Plains had a negative net margin of 6.34% and a negative return on equity of 13.65%. The company had revenue of $552.83 million for the quarter, compared to the consensus estimate of $578.18 million. During the same quarter last year, the business posted ($0.38) earnings per share. Green Plains’s revenue was down 10.7% on a year-over-year basis. As a group, analysts forecast that Green Plains will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michelle Mapes sold 30,954 shares of Green Plains stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $9.51, for a total value of $294,372.54. Following the completion of the sale, the insider owned 60,558 shares of the company’s stock, valued at approximately $575,906.58. This trade represents a 33.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Green Plains

Several large investors have recently added to or reduced their stakes in GPRE. GAMMA Investing LLC increased its holdings in Green Plains by 193.2% in the 1st quarter. GAMMA Investing LLC now owns 41,138 shares of the specialty chemicals company’s stock worth $200,000 after acquiring an additional 27,106 shares during the last quarter. Lumbard & Kellner LLC grew its holdings in Green Plains by 159.4% during the 1st quarter. Lumbard & Kellner LLC now owns 740,323 shares of the specialty chemicals company’s stock valued at $3,591,000 after buying an additional 454,882 shares in the last quarter. M&T Bank Corp purchased a new position in Green Plains during the 1st quarter valued at about $58,000. Y Intercept Hong Kong Ltd purchased a new position in Green Plains during the 1st quarter valued at about $422,000. Finally, AE Wealth Management LLC purchased a new position in Green Plains during the 1st quarter valued at about $141,000.

Green Plains Company Profile

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.