Deere & Company (NYSE:DE) Cut to "Sell" at Wall Street Zen

Key Points

• Deere & Company has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, reflecting a negative outlook for the stock.
• Despite the recent downgrade, some analysts remain optimistic, with Melius Research upgrading their rating to "strong-buy" and other firms suggesting mixed ratings and price targets.
• Deere reported a quarterly EPS of $4.75, beating expectations, but its revenue has declined by 9.0% year-over-year, indicating potential challenges ahead.

Deere & Company (NYSE:DE - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

DE has been the subject of a number of other research reports. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Bank of America boosted their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. DA Davidson reissued a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Citigroup reduced 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $521.47.

Deere & Company Price Performance

NYSE:DE opened at $488.68 on Friday. Deere & Company has a one year low of $371.16 and a one year high of $533.78. The company has a market cap of $132.35 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.04 and a beta of 1.06. The firm's fifty day moving average price is $511.18 and its two-hundred day moving average price is $489.89. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company earned $6.29 earnings per share. The company's quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DE. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company in the second quarter valued at approximately $25,000. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company in the second quarter valued at approximately $27,000. Activest Wealth Management increased its stake in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the period. 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.

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