Bank of America Cuts Bunge Global (NYSE:BG) Price Target to $87.00

Bunge Global (NYSE:BG) had its price target trimmed by Bank of America from $105.00 to $87.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also issued reports on the stock. Stephens reduced their price target on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Barclays reduced their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Bunge Global Price Performance

BG stock opened at $69.85 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Bunge Global has a one year low of $67.40 and a one year high of $114.92. The firm has a market capitalization of $9.75 billion, a PE ratio of 8.65 and a beta of 0.69. The firm has a 50-day moving average of $77.90 and a two-hundred day moving average of $88.67.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, analysts forecast that Bunge Global will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Bunge Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management bought a new position in Bunge Global during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in Bunge Global during the third quarter valued at approximately $34,000. Farther Finance Advisors LLC raised its position in Bunge Global by 40.1% during the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 124 shares in the last quarter. Crews Bank & Trust bought a new position in Bunge Global during the fourth quarter valued at approximately $39,000. Finally, R Squared Ltd acquired a new position in Bunge Global during the fourth quarter valued at approximately $45,000. Institutional investors own 86.23% of the company’s stock.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.