Pacific Ethanol Receives a Buy from Roth Capital

By Ryan Adsit

Roth Capital analyst Craig Irwin reiterated a Buy rating on Pacific Ethanol (NASDAQ: PEIX) today and set a price target of $9. The company’s shares opened today at $7.50, close to its 52-week high of $7.70.

Irwin commented:

“We expect Pacific Ethanol to report inline essentially 3Q16 results. We see the supply/demand balance as positive, where the outlook for more limited 2016 debottlenecking and healthy demand growth points to a more bullish setup for YE16 and 2017, indicating, in our view, that our base scenario of ~$0.15/gal 2017 crush EBITDA is well supported.”

According to, Irwin is ranked 0 out of 5 stars with an average return of -6.2% and a 33.1% success rate. Irwin covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp., Ballard Power Systems, and Amer. Superconductor.

Pacific Ethanol has an analyst consensus of Moderate Buy.

Based on Pacific Ethanol’s latest earnings report from March 31, the company posted quarterly revenue of $342.4M and quarterly net profit of -$13.23M. In comparison, last year the company earned revenue of $380.6M and had a net profit of -$14.66M.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Prince John L, a Director at PEIX sold 17,745 shares for a total of $117,827.

Pacific Ethanol, Inc. produces and markets low-carbon renewable fuels in the Western United States. The company operates through the following segments: Production and Marketing. It produces and markets co-products, including wet and dry corn gluten feed, condensed distillers solubles, corn gluten meals, corn germs, distillers yeast, and CO2. The company was founded William L. Joneson and Neil M. Koehler February 28, 2005 and is headquartered in Sacramento, CA.