DA Davidson Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Key Points

• DA Davidson raised Deere’s price target from $685 to $760 and maintained a “buy” rating, implying 16.18% upside from the stock’s $654.18 price.
• Analyst sentiment remains positive overall, with 14 buy ratings and nine holds; MarketBeat lists a “Moderate Buy” consensus and an average target of $653.48.
• Deere exceeded quarterly expectations, reporting $5.10 in EPS versus the $4.69 consensus and $12.61 billion in revenue, up 6.2% year over year.

Deere & Company (NYSE:DE - Get Free Report) had its target price boosted by stock analysts at DA Davidson from $685.00 to $760.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. DA Davidson's price target would indicate a potential upside of 16.18% from the company's current price.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the stock a "neutral" rating in a report on Friday. Oppenheimer upped their target price on shares of Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research note on Thursday. Bank of America lowered their target price on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a report on Friday, May 22nd. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, May 22nd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a report on Tuesday, August 18th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and an average target price of $653.48.

Deere & Company Stock Up 1.0%

NYSE DE traded up $6.71 during trading hours on Monday, reaching $654.18. 416,956 shares of the company's stock were exchanged, compared to its average volume of 1,378,122. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The company has a market capitalization of $176.59 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.74 and a beta of 0.90. The company's 50-day moving average is $606.90 and its two-hundred day moving average is $591.15. Deere & Company has a one year low of $433.00 and a one year high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.75 earnings per share. On average, analysts forecast that Deere & Company will post 18.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in shares of Deere & Company by 60,460.4% during the 2nd quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company's stock worth $148,804,949,000 after buying an additional 234,198,659 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Deere & Company in the second quarter valued at about $11,763,504,000. State Street Corp raised its holdings in Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after acquiring an additional 97,049 shares in the last quarter. Capital World Investors boosted its position in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after purchasing an additional 158,584 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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