Deere & Company (DE) Lowered to Hold at Zacks Investment Research

Deere & Company (NYSE:DE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Deere is poised to gain from the Wirtgen acquisition. The buyout will aid Deere’s North America-centric construction business and also catapult it to the position of an industry leader in global road construction. The company expects that its disciplined cost management and continued investment in innovative technology and solutions will drive its near term results. Recovery in the dairy and livestock sectors will drive growth in the EU28 region. Further, Deere’s acquisition of Blue River Technology remains a tailwind. The stock has outperformed the industry in the last year. Its estimates have also been revised upward lately. However, Deere will bear the brunt of expected decline in agricultural production in Brazil, elevated expenses as well as geopolitical disruptions around the world.”

Other equities analysts have also issued reports about the stock. Royal Bank of Canada raised shares of Deere & Company from a “sector perform” rating to an “outperform” rating and dropped their price objective for the company from $190.00 to $155.00 in a research report on Wednesday, January 10th. Wells Fargo & Co reissued an “outperform” rating and issued a $200.00 price objective (up from $170.00) on shares of Deere & Company in a research report on Wednesday, January 10th. Barclays raised shares of Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price objective on the stock in a research report on Wednesday, January 10th. Vetr raised shares of Deere & Company from a “buy” rating to a “strong-buy” rating and set a $177.25 price objective on the stock in a research report on Monday. Finally, Jefferies Group restated a “hold” rating and issued a $150.00 price target on shares of Deere & Company in a research note on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $155.21.

Deere & Company (NYSE:DE) traded up $4.28 during midday trading on Monday, reaching $159.21. 2,155,043 shares of the company’s stock traded hands, compared to its average volume of 2,293,470. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. Deere & Company has a 1 year low of $106.72 and a 1 year high of $171.96. The company has a market capitalization of $50,082.22, a price-to-earnings ratio of 23.97, a P/E/G ratio of 2.32 and a beta of 0.75.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. The company had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.91 billion. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. sell-side analysts expect that Deere & Company will post 8.15 EPS for the current fiscal year.

In other Deere & Company news, insider Max A. Guinn sold 11,235 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $168.68, for a total transaction of $1,895,119.80. Following the sale, the insider now directly owns 39,406 shares in the company, valued at $6,647,004.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rajesh Kalathur sold 4,519 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total transaction of $672,969.48. Following the sale, the chief financial officer now owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. Insiders have sold 187,603 shares of company stock worth $28,058,143 over the last quarter. Corporate insiders own 0.74% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Pillar Pacific Capital Management LLC lifted its holdings in shares of Deere & Company by 0.7% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 46,477 shares of the industrial products company’s stock worth $7,274,000 after acquiring an additional 310 shares during the last quarter. Dupont Capital Management Corp raised its holdings in Deere & Company by 22.8% in the 4th quarter. Dupont Capital Management Corp now owns 1,681 shares of the industrial products company’s stock valued at $263,000 after buying an additional 312 shares during the last quarter. Advisor Partners LLC raised its holdings in Deere & Company by 4.4% in the 4th quarter. Advisor Partners LLC now owns 7,730 shares of the industrial products company’s stock valued at $1,317,000 after buying an additional 323 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in Deere & Company by 3.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 10,268 shares of the industrial products company’s stock valued at $1,607,000 after buying an additional 355 shares during the last quarter. Finally, V Wealth Management LLC raised its holdings in Deere & Company by 6.9% in the 4th quarter. V Wealth Management LLC now owns 5,634 shares of the industrial products company’s stock valued at $950,000 after buying an additional 364 shares during the last quarter. 66.84% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Deere & Company (DE) Lowered to Hold at Zacks Investment Research” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/12/deere-company-de-lowered-to-hold-at-zacks-investment-research.html.

About Deere & Company

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

Get a free copy of the Zacks research report on Deere & Company (DE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply