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Deere & Company (NYSE:DE) was downgraded by research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a report released on Friday, TheFlyOnTheWall.com reports. They currently have a $75.00 target price on the stock, down from their previous target price of $85.00. Macquarie’s price target points to a potential downside of 13.00% from the stock’s previous close.

Shares of Deere & Company (NYSE:DE) opened at 86.21 on Friday. Deere & Company has a 1-year low of $80.76 and a 1-year high of $94.89. The stock’s 50-day moving average is $86.96 and its 200-day moving average is $89.23. The company has a market cap of $31.199 billion and a P/E ratio of 9.65.

Deere & Company (NYSE:DE) last posted its quarterly 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 $8.37 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on DE. Analysts at Zacks reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday, August 14th. They now have a $89.00 price target on the stock. Separately, analysts at Global Hunter Securities reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday, August 14th. They now have a $86.00 price target on the stock, down previously from $90.00. Finally, analysts at Robert W. Baird reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday, August 14th. They now have a $85.00 price target on the stock, down previously from $87.00. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $86.19.

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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