Deere & Company (NYSE:DE) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Deere & Company has received a consensus rating of "Moderate Buy" from analysts, with one strong buy, eight buy, and nine hold recommendations reported.
• The average 12-month price target for Deere shares is approximately $523.87, reflecting mixed projections from various analysts based on recent updates.
• In its latest earnings report, Deere reported $4.75 earnings per share, exceeding expectations while experiencing a 9% year-over-year decline in revenue.

Shares of Deere & Company (NYSE:DE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eighteen analysts that are currently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $523.8667.

A number of analysts recently commented on DE shares. Citigroup lowered 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 note on Friday, May 30th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Oppenheimer raised their price target on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Bank of America raised their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Robert W. Baird reduced their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th.

Deere & Company Stock Up 0.1%

Shares of Deere & Company stock opened at $488.59 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1 year low of $374.46 and a 1 year high of $533.78. The firm's 50-day moving average is $507.17 and its two-hundred day moving average is $490.91. The stock has a market cap of $132.32 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.13 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company's revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business earned $6.29 EPS. As a group, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently bought and sold shares of DE. Mid American Wealth Advisory Group Inc. purchased a new position in Deere & Company during the 2nd quarter worth approximately $25,000. Activest Wealth Management increased its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Deere & Company during the 2nd quarter valued at approximately $27,000. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the 1st quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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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