Archer Daniels Midland (NYSE:ADM) Given New $50.00 Price Target at Barclays

Archer Daniels Midland (NYSE:ADM - Get Free Report) had its price target hoisted by analysts at Barclays from $48.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Barclays's price objective indicates a potential downside of 8.92% from the stock's previous close.

Several other analysts also recently issued reports on ADM. UBS Group raised Archer Daniels Midland from a "neutral" rating to a "buy" rating and lifted their price target for the company from $55.00 to $60.00 in a research note on Monday, May 19th. Bank of America downgraded Archer Daniels Midland from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $47.00 to $45.00 in a research note on Thursday, May 8th. Finally, Citigroup dropped their price target on Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Archer Daniels Midland currently has a consensus rating of "Hold" and a consensus price target of $52.25.

Archer Daniels Midland Stock Down 1.8%

Shares of NYSE:ADM traded down $1.01 during trading on Wednesday, hitting $54.90. 2,259,865 shares of the company's stock traded hands, compared to its average volume of 3,520,330. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $49.96 and a 200-day moving average price of $48.78. Archer Daniels Midland has a 52 week low of $40.98 and a 52 week high of $66.08. The company has a market cap of $26.37 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 3.11 and a beta of 0.69.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Archer Daniels Midland had a net margin of 1.63% and a return on equity of 8.71%. The firm had revenue of $20.18 billion for the quarter, compared to analyst estimates of $22.05 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The business's revenue was down 7.7% on a year-over-year basis. As a group, research analysts forecast that Archer Daniels Midland will post 4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Archer Daniels Midland

Several hedge funds have recently modified their holdings of ADM. Trust Co of the South bought a new position in Archer Daniels Midland during the second quarter worth about $503,000. Central Pacific Bank Trust Division grew its holdings in Archer Daniels Midland by 15.9% during the second quarter. Central Pacific Bank Trust Division now owns 12,400 shares of the company's stock worth $654,000 after purchasing an additional 1,700 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new position in Archer Daniels Midland during the first quarter worth about $1,008,000. Swedbank AB grew its holdings in Archer Daniels Midland by 3.1% during the first quarter. Swedbank AB now owns 406,626 shares of the company's stock worth $19,522,000 after purchasing an additional 12,345 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Archer Daniels Midland by 1.2% during the first quarter. Voya Investment Management LLC now owns 149,169 shares of the company's stock worth $7,162,000 after purchasing an additional 1,739 shares during the period. Institutional investors own 78.28% of the company's stock.

Archer Daniels Midland Company Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.