Deere & Company Rating Reiterated by Robert W. Baird (DE)
Deere & Company (NYSE:DE)‘s stock had its “neutral” rating reaffirmed by research analysts at Robert W. Baird in a report released on Thursday. They currently have a $85.00 price target on the stock, down from their previous price target of $87.00. Robert W. Baird’s target price indicates a potential upside of 0.60% from the company’s current price.
Shares of Deere & Company (NYSE:DE) traded up 0.13% during mid-day trading on Thursday, hitting $84.60. The stock had a trading volume of 3,871,848 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 $30.777 billion and a P/E ratio of 9.24. Deere & Company also was the recipient of 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. Currently, 6.7% of the shares of the stock are sold short. Based on an average trading volume of 3,399,526 shares, the days-to-cover ratio is currently 7.2 days.
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. On average, analysts predict that Deere & Company will post $8.40 earnings per share for the current fiscal year.
A number of other firms have also recently commented on DE. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Deere & Company in a research note on Thursday. They now have a $98.00 price target on the stock, down previously from $104.00. Separately, 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. Finally, 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. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.82.
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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