Archer-Daniels-Midland Company (NYSE:ADM) Raised to Hold at Zacks Investment Research
Archer-Daniels-Midland Company (NYSE:ADM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Archer Daniels posted second-quarter 2017 results, wherein earnings surged 39%, largely driven by solid cost savings. Notably, the company is running ahead of track with its savings target of $225 million for 2017. Further, the company remains committed to strengthen its capacities and geographic spread, via buyouts and other organic expansions. Given these factors and the prospects from Project Readiness, management remains confident of achieving strong year-over-year earnings growth in 2017. In fact, the company is poised to emerge stronger in 2018. However, Archer Daniels has lagged the sector year to date, due to its negative sales surprise history for over three years now. The company continued this dismal trend in the second quarter too, wherein the top line fell year over year, alongside missing estimate. Apart from this, Archer Daniels expects a highly competitive global environment in the third quarter.”
A number of other equities research analysts have also recently weighed in on ADM. Credit Suisse Group restated a “hold” rating and issued a $46.00 price target on shares of Archer-Daniels-Midland in a research note on Friday, April 7th. Vetr upgraded Archer-Daniels-Midland from a “buy” rating to a “strong-buy” rating and set a $46.76 price target on the stock in a research note on Monday, May 22nd. Argus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. BMO Capital Markets restated a “hold” rating and issued a $41.00 price target on shares of Archer-Daniels-Midland in a research note on Tuesday, June 27th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Archer-Daniels-Midland in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.10.
Shares of Archer-Daniels-Midland (NYSE ADM) traded down 0.07% during trading on Friday, reaching $42.59. 2,595,118 shares of the company were exchanged. The stock has a market capitalization of $23.96 billion, a price-to-earnings ratio of 18.01 and a beta of 1.11. Archer-Daniels-Midland has a one year low of $40.22 and a one year high of $47.88. The company has a 50 day moving average price of $41.53 and a 200-day moving average price of $43.44.
Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $15.86 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts predict that Archer-Daniels-Midland will post $2.61 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Archer-Daniels-Midland by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 2,206 shares of the company’s stock valued at $102,000 after buying an additional 8 shares during the last quarter. Enterprise Financial Services Corp boosted its position in Archer-Daniels-Midland by 17.7% in the second quarter. Enterprise Financial Services Corp now owns 2,526 shares of the company’s stock valued at $105,000 after buying an additional 380 shares during the last quarter. Ledyard National Bank purchased a new position in Archer-Daniels-Midland during the first quarter valued at $120,000. Whittier Trust Co. boosted its position in Archer-Daniels-Midland by 1,221.7% in the first quarter. Whittier Trust Co. now owns 3,172 shares of the company’s stock valued at $146,000 after buying an additional 2,932 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd boosted its position in Archer-Daniels-Midland by 681.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,398 shares of the company’s stock valued at $156,000 after buying an additional 2,963 shares during the last quarter. Hedge funds and other institutional investors own 72.52% of the company’s stock.
Archer-Daniels-Midland Company Profile
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