Bunge Global (NYSE:BG) Stock Rating Upgraded by Zacks Research

Bunge Global (NYSE:BG) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Stephens boosted their price objective on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Bank of America lifted their target price on shares of Bunge Global from $95.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday. CICC Research upped their price target on shares of Bunge Global from $90.00 to $110.00 in a research report on Friday, November 7th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research note on Thursday, November 6th. Finally, Citigroup restated a “buy” rating on shares of Bunge Global in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bunge Global has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Bunge Global Stock Performance

BG opened at $94.36 on Wednesday. The firm has a fifty day moving average price of $92.05 and a 200 day moving average price of $84.20. Bunge Global has a 1 year low of $67.40 and a 1 year high of $99.55. The stock has a market cap of $18.24 billion, a P/E ratio of 10.16, a P/E/G ratio of 2.48 and a beta of 0.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.66 and a quick ratio of 0.83.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a net margin of 2.20% and a return on equity of 9.06%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $22.46 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The company’s revenue was up 71.6% compared to the same quarter last year. Equities research analysts anticipate that Bunge Global will post 7.94 earnings per share for the current year.

Insider Transactions at Bunge Global

In other Bunge Global news, VP Christos Dimopoulos sold 25,300 shares of Bunge Global stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $94.37, for a total transaction of $2,387,561.00. Following the transaction, the vice president directly owned 104,537 shares of the company’s stock, valued at $9,865,156.69. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BG. Swiss Life Asset Management Ltd raised its position in Bunge Global by 26.6% in the third quarter. Swiss Life Asset Management Ltd now owns 39,744 shares of the basic materials company’s stock valued at $3,229,000 after purchasing an additional 8,345 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Bunge Global during the 3rd quarter worth about $4,204,000. Danske Bank A S purchased a new stake in Bunge Global in the 3rd quarter valued at about $373,000. Stance Capital LLC acquired a new position in Bunge Global in the third quarter valued at about $34,000. Finally, Advisory Services Network LLC purchased a new position in Bunge Global during the third quarter worth about $191,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.