Deere & Company (NYSE:DE) Stock Rating Upgraded by Wall Street Zen

Key Points

• Deere & Company was upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• Several brokerages have adjusted their price targets for Deere, with Bank of America raising its target to $556.00 and Barclays to $530.00, while DA Davidson lowered theirs to $580.00.
• Deere's recent quarterly earnings exceeded expectations, reporting $4.75 earnings per share, which is an increase from $6.29 per share in the prior year.

Deere & Company (NYSE:DE - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other brokerages have also weighed in on DE. DA Davidson dropped their price objective on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Oppenheimer upped their price target on shares of Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Finally, Barclays upped their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $520.87.

Deere & Company Stock Performance

NYSE DE opened at $471.35 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm's fifty day moving average price is $497.38 and its two-hundred day moving average price is $490.24. Deere & Company has a 1 year low of $386.42 and a 1 year high of $533.78. The firm has a market capitalization of $127.42 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $10.33 billion. During the same period in the prior year, the firm posted $6.29 earnings per share. The company's quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Institutional Investors Weigh In On Deere & Company

Large investors have recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company during the second quarter worth about $25,000. Activest Wealth Management grew its stake in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in Deere & Company during the second quarter worth about $27,000. Hughes Financial Services LLC acquired a new stake in Deere & Company during the first quarter worth about $29,000. Finally, Cornerstone Planning Group LLC grew its stake in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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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