Deere & Company Rating Reiterated by Credit Suisse (DE)
Deere & Company (NYSE:DE)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse in a report released on Thursday. They currently have a $98.00 price objective on the stock, down from their previous price objective of $104.00. Credit Suisse’s target price would suggest a potential upside of 15.99% from the stock’s previous close.
Shares of Deere & Company (NYSE:DE) traded up 0.47% on Thursday, hitting $84.89. The stock had a trading volume of 6,386,688 shares. Deere & Company has a 52-week low of $80.76 and a 52-week high of $94.89. The stock’s 50-day moving average is $87.80 and its 200-day moving average is $89.28. The company has a market cap of $30.882 billion and a price-to-earnings ratio of 9.24. Deere & Company also saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 24,493,467 shares, an increase of 16.6% from the July 15th total of 21,003,363 shares. Based on an average daily trading volume, of 3,399,526 shares, the short-interest ratio is presently 7.2 days. Approximately 6.7% of the shares of the company are short sold.
Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, August 13th. The company reported $2.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.20 by $0.13. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.75 million. Analysts expect that Deere & Company will post $8.40 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at William Blair cut their price target on shares of Deere & Company from $80.00 to $75.00 in a research note on Thursday. Separately, analysts at Barclays cut their price target on shares of Deere & Company from $101.00 to $97.00 in a research note on Monday. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $88.00 to $83.00 in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $86.97.
Deere & Company (NYSE:DE) along with its subsidiaries, operates in three segments: agriculture and turf, construction and forestry and financial services.
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