Archer Daniels Midland Upgraded by Citigroup Inc. to Buy (ADM)
Archer Daniels Midland (NYSE:ADM) was upgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $45.00 price target on the stock. Citigroup Inc.’s target price would indicate a potential upside of 16.11% from the stock’s previous close.
The analysts wrote, “dramatic improvements in Archer’s oil seeds Agricultural services Ethanol operations.”
In other Archer Daniels Midland news, CFO Ray G. Young purchased 3,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average price of $38.57 per share, for a total transaction of $115,710.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Archer Daniels Midland (NYSE:ADM) traded up 1.12% on Wednesday, hitting $38.66. 8,798,961 shares of the company’s stock traded hands. Archer Daniels Midland has a one year low of $29.27 and a one year high of $43.99. The stock’s 50-day moving average is $41.89 and its 200-day moving average is $39.16. The company has a market cap of $25.437 billion and a price-to-earnings ratio of 16.99.
Archer Daniels Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.11. The company had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $25.07 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts predict that Archer Daniels Midland will post $3.25 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ADM. Analysts at Stephens downgraded shares of Archer Daniels Midland from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, January 7th. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Archer Daniels Midland in a research note to investors on Tuesday, December 24th. They set a “hold” rating on the stock. Finally, analysts at Macquarie initiated coverage on shares of Archer Daniels Midland in a research note to investors on Tuesday, December 17th. They set an “outperform” rating on the stock. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $38.17.
Archer-Daniels-Midland-Company, is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.
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