Deere & Company (NYSE:DE) was upgraded by stock analysts at Deutsche Bank to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
A number of other research analysts have also recently commented on DE. Robert W. Baird cut Deere & Company from an “outperform” rating to a “neutral” rating and set a $150.00 price objective on the stock. in a research note on Monday, April 13th. Zacks Investment Research upgraded Deere & Company from a “sell” rating to a “hold” rating and set a $157.00 price objective on the stock in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upgraded Deere & Company from an “underweight” rating to a “neutral” rating and set a $140.00 price objective on the stock in a research note on Friday, March 27th. They noted that the move was a valuation call. Wells Fargo & Co reduced their price objective on Deere & Company from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Finally, Morgan Stanley boosted their price objective on Deere & Company from $171.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $169.09.
Deere & Company stock traded up $4.67 during midday trading on Tuesday, reaching $153.71. The stock had a trading volume of 1,094,200 shares, compared to its average volume of 1,961,534. Deere & Company has a twelve month low of $106.14 and a twelve month high of $181.99. The stock has a market capitalization of $46.63 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 3.53 and a beta of 0.93. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.95 and a current ratio of 2.20. The stock’s 50-day simple moving average is $149.03 and its 200 day simple moving average is $154.43.
Deere & Company (NYSE:DE) last issued its earnings results on Friday, May 22nd. The industrial products company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.49. Deere & Company had a return on equity of 23.01% and a net margin of 7.62%. The firm had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $7.68 billion. During the same quarter last year, the firm earned $3.52 earnings per share. The firm’s revenue for the quarter was down 19.9% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 6.03 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Capital Advisory Group Advisory Services LLC bought a new position in Deere & Company in the 1st quarter worth approximately $28,000. Atlas Private Wealth Management acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Solstein Capital LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $35,000. Danda Trouve Investment Management Inc. bought a new position in Deere & Company in the fourth quarter valued at approximately $35,000. Finally, MBE Wealth Management LLC bought a new position in Deere & Company in the first quarter valued at approximately $35,000. 66.88% of the stock is owned by institutional investors.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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