Trading Report: The Brokerages Set $10.00 Price Target for Pacific Ethanol Inc. (PEIX)

The Brokerages Set $10.00 Price Target for Pacific Ethanol Inc. (PEIX)

Pacific Ethanol Inc. (NASDAQ:PEIX) has received an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy rating.

Analysts have set a one year consensus price target of $10.00 for the company and are anticipating that the company will post $0.07 EPS for the current quarter, according to Zacks. Zacks has also given Pacific Ethanol an industry rank of 18 out of 265 based on the ratings given to its competitors.

PEIX has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Pacific Ethanol from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Thursday, September 29th. Roth Capital reissued a “buy” rating and set a $9.00 target price on shares of Pacific Ethanol in a research note on Monday, August 1st.

In related news, Director John L. Prince sold 17,745 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $6.64, for a total value of $117,826.80. Following the completion of the sale, the director now directly owns 28,801 shares of the company’s stock, valued at $191,238.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William L. Jones sold 15,000 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $6.75, for a total transaction of $101,250.00. Following the completion of the sale, the director now directly owns 53,624 shares of the company’s stock, valued at $361,962. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in PEIX. Lorem Ipsum Management LLC acquired a new stake in Pacific Ethanol during the second quarter worth $272,000. FNY Managed Accounts LLC acquired a new stake in Pacific Ethanol during the second quarter worth $282,000. Investors Capital Advisory Services raised its stake in Pacific Ethanol by 6.0% in the second quarter. Investors Capital Advisory Services now owns 52,327 shares of the company’s stock worth $285,000 after buying an additional 2,950 shares during the period. Royce & Associates LP acquired a new stake in Pacific Ethanol during the second quarter worth $409,000. Finally, DIAM Co. Ltd. raised its stake in Pacific Ethanol by 56.5% in the second quarter. DIAM Co. Ltd. now owns 106,700 shares of the company’s stock worth $582,000 after buying an additional 38,500 shares during the period. 73.71% of the stock is owned by institutional investors.

Pacific Ethanol (NASDAQ:PEIX) traded down 0.070% during mid-day trading on Wednesday, reaching $7.175. 139,867 shares of the company were exchanged. The stock has a 50 day moving average of $6.69 and a 200-day moving average of $5.74. Pacific Ethanol has a one year low of $2.41 and a one year high of $7.50. The stock’s market capitalization is $309.65 million.

Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.14. Pacific Ethanol had a negative net margin of 1.55% and a negative return on equity of 4.18%. The business had revenue of $422.90 million for the quarter, compared to analysts’ expectations of $383.29 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The business’s revenue was up 85.8% compared to the same quarter last year. On average, equities analysts expect that Pacific Ethanol will post $0.04 earnings per share for the current fiscal year.

About Pacific Ethanol

Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.

Related posts

Leave a Comment