BMO Capital Markets Reiterates Market Perform Rating for Deere & Company (NYSE:DE)

Deere & Company (NYSE:DE)‘s stock had its “market perform” rating reiterated by research analysts at BMO Capital Markets in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $460.00 target price on the industrial products company’s stock, up from their prior target price of $425.00. BMO Capital Markets’ price target indicates a potential downside of 10.78% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Raymond James increased their price target on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Evercore ISI raised their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus price target of $516.75.

Deere & Company Trading Up 0.2%

NYSE:DE opened at $515.56 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The firm has a market capitalization of $139.93 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The stock has a fifty day simple moving average of $472.03 and a 200 day simple moving average of $457.60.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the company posted $8.53 EPS. Deere & Company’s revenue for the quarter was down 17.9% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently made changes to their positions in the company. Activest Wealth Management raised its stake in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares in the last quarter. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Finally, YANKCOM Partnership bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $34,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.