Archer-Daniels-Midland (NYSE:ADM) had its price target upped by research analysts at Credit Suisse Group from $54.00 to $60.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Credit Suisse Group's target price suggests a potential downside of 7.16% from the company's previous close.
Several other research firms also recently weighed in on ADM. Barclays boosted their target price on Archer-Daniels-Midland from $60.00 to $75.00 in a research report on Monday. Robert W. Baird boosted their target price on Archer-Daniels-Midland from $53.00 to $78.00 and gave the company an "outperform" rating in a research report on Wednesday, April 28th. BMO Capital Markets boosted their target price on Archer-Daniels-Midland from $56.00 to $63.00 and gave the company a "market perform" rating in a research report on Wednesday, April 28th. Monness Crespi & Hardt boosted their target price on Archer-Daniels-Midland from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, April 28th. Finally, JPMorgan Chase & Co. boosted their target price on Archer-Daniels-Midland from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, March 24th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of "Buy" and an average target price of $61.31.
NYSE:ADM opened at $64.63 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 1.01. Archer-Daniels-Midland has a 1 year low of $33.01 and a 1 year high of $64.91. The stock's 50 day simple moving average is $58.66 and its two-hundred day simple moving average is $53.50. The company has a market cap of $36.11 billion, a price-to-earnings ratio of 22.84 and a beta of 0.85.
Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Monday, April 26th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.00 by $0.39. Archer-Daniels-Midland had a return on equity of 11.10% and a net margin of 2.53%. The business had revenue of $18.89 billion for the quarter, compared to the consensus estimate of $16.13 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The company's revenue was up 26.2% compared to the same quarter last year. As a group, analysts anticipate that Archer-Daniels-Midland will post 3.44 EPS for the current year.
In other Archer-Daniels-Midland news, SVP Joseph D. Taets sold 43,711 shares of the company's stock in a transaction on Friday, February 12th. The stock was sold at an average price of $55.40, for a total value of $2,421,589.40. Following the completion of the sale, the senior vice president now directly owns 215,093 shares in the company, valued at approximately $11,916,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jennifer L. Weber acquired 5,095 shares of the firm's stock in a transaction that occurred on Friday, March 12th. The shares were bought at an average price of $58.40 per share, with a total value of $297,548.00. Following the completion of the purchase, the senior vice president now directly owns 69,301 shares in the company, valued at $4,047,178.40. The disclosure for this purchase can be found here. 1.27% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ADM. Norges Bank purchased a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth $293,347,000. Alyeska Investment Group L.P. acquired a new position in Archer-Daniels-Midland during the 4th quarter valued at about $37,371,000. Russell Investments Group Ltd. increased its position in Archer-Daniels-Midland by 35.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,144,253 shares of the company's stock valued at $108,021,000 after buying an additional 564,815 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Archer-Daniels-Midland by 24.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,833,807 shares of the company's stock valued at $142,843,000 after buying an additional 559,462 shares in the last quarter. Finally, BlackRock Inc. increased its position in Archer-Daniels-Midland by 1.3% during the 4th quarter. BlackRock Inc. now owns 37,675,225 shares of the company's stock valued at $1,899,209,000 after buying an additional 485,255 shares in the last quarter. Hedge funds and other institutional investors own 77.94% of the company's stock.
Archer-Daniels-Midland Co processes oilseeds, corn, wheat, cocoa and other agricultural commodities. The company operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition. The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds, such as cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals.
Read More: What is the definition of arbitrage?
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 [email protected]
Featured Article: What is a stock portfolio tracker?7 Stocks That Cathie Wood is Buying And You Should Too
If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.
The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.
As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.
But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.
In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.
View the "7 Stocks That Cathie Wood is Buying And You Should Too"