Daiwa Capital Markets Has Lowered Expectations for Deere & Company (NYSE:DE) Stock Price

Key Points

• Daiwa Capital Markets has reduced its price target for Deere & Company from $565 to $530, while maintaining an "outperform" rating, indicating a potential upside of 13.85% based on current stock prices.
• Other analysts have followed suit with lower price targets, including Robert W. Baird and Oppenheimer, with the average target now standing at $518.06 for the stock.
• Deere & Company reported earnings per share of $4.75 for the last quarter, exceeding estimates, but its revenue declined by 9% year-over-year.

Deere & Company (NYSE:DE - Get Free Report) had its price objective decreased by equities research analysts at Daiwa Capital Markets from $565.00 to $530.00 in a research note issued on Thursday,MarketScreener reports. The brokerage currently has an "outperform" rating on the industrial products company's stock. Daiwa Capital Markets' price target suggests a potential upside of 13.85% from the company's current price.

Other equities analysts also recently issued reports about the stock. Robert W. Baird dropped their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 2nd. Oppenheimer decreased their target price on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research report on Thursday, September 18th. Citigroup decreased their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Finally, DA Davidson decreased their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $518.06.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $465.52 on Thursday. The company has a market capitalization of $125.84 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 3.03 and a beta of 1.00. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The firm's 50-day moving average is $491.04 and its 200 day moving average is $489.89. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.29 EPS. Research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Institutional Trading of Deere & Company

Several institutional investors have recently modified their holdings of the stock. Caldwell Trust Co acquired a new stake in shares of Deere & Company in the second quarter valued at about $1,580,000. Watts Gwilliam & Co. LLC purchased a new position in Deere & Company during the second quarter worth about $211,000. Valeo Financial Advisors LLC raised its stake in shares of Deere & Company by 22.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,078 shares of the industrial products company's stock valued at $5,124,000 after acquiring an additional 1,843 shares during the period. NWF Advisory Services Inc. acquired a new position in shares of Deere & Company in the second quarter valued at approximately $363,000. Finally, Reynders McVeigh Capital Management LLC grew its holdings in shares of Deere & Company by 44.5% in the second quarter. Reynders McVeigh Capital Management LLC now owns 2,133 shares of the industrial products company's stock valued at $1,085,000 after purchasing an additional 657 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.