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Shares of Archer Daniels Midland (NYSE:ADM) hit a new 52-week high during mid-day trading on Monday , American Banking News reports. The company traded as high as $48.33 and last traded at $48.15, with a volume of 1,855,394 shares. The stock had previously closed at $47.85.

ADM has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Archer Daniels Midland in a research note on Wednesday, July 9th. They now have a $53.00 price target on the stock, up previously from $50.00. Separately, analysts at Miller Tabak upgraded shares of Archer Daniels Midland from a “hold” rating to a “buy” rating in a research note on Monday, July 7th. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Archer Daniels Midland in a research note on Friday, May 9th. They now have a $48.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Archer Daniels Midland has a consensus rating of “Buy” and a consensus target price of $46.88.

The stock has a 50-day moving average of $44.86 and a 200-day moving average of $42.96. The company has a market cap of $31.388 billion and a price-to-earnings ratio of 23.81.

Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Tuesday, April 29th. The company reported $0.55 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.74 by $0.19. The company had revenue of $20.70 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter last year, the company posted $0.48 earnings per share. Archer Daniels Midland’s revenue was down 4.7% compared to the same quarter last year. Analysts expect that Archer Daniels Midland will post $3.03 EPS for the current fiscal year.

Archer-Daniels-Midland-Company, is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.

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