Short Interest in Deere & Company Rises By 16.6% (DE)
Deere & Company (NYSE:DE) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 24,493,467 shares, a growth of 16.6% from the July 15th total of 21,003,363 shares, AnalystRatings.Net reports. Currently, 6.7% of the company’s stock are sold short. Based on an average trading volume of 3,399,526 shares, the days-to-cover ratio is presently 7.2 days.
A number of research firms have recently commented on DE. Analysts at Zacks reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday. They now have a $89.00 price target on the stock. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday. They now have a $85.00 price target on the stock, down previously from $88.00. Finally, analysts at Global Hunter Securities reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday. They now have a $86.00 price target on the stock, down previously from $90.00. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $86.97.
Deere & Company (NYSE:DE) opened at 84.89 on Friday. Deere & Company has a one year low of $80.76 and a one year high of $94.89. The stock has a 50-day moving average of $87.63 and a 200-day moving average of $89.24. The company has a market cap of $30.882 billion and a price-to-earnings ratio of 9.24.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating the analysts’ 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.
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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