Deere & Company (NYSE:DE) Stock Price Expected to Rise, UBS Group Analyst Says

Deere & Company (NYSE:DE) had its price objective upped by equities researchers at UBS Group from $404.00 to $462.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price target suggests a potential upside of 3.44% from the stock’s current price.

DE has been the topic of a number of other research reports. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Barclays upped their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $431.61.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $446.65 on Friday. The company has a 50 day moving average of $406.99 and a 200-day moving average of $386.36. The company has a market cap of $122.20 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. Deere & Company has a 1-year low of $340.20 and a 1-year high of $447.50.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the company earned $8.26 earnings per share. The company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently added to or reduced their stakes in the business. Fairscale Capital LLC bought a new position in Deere & Company during the second quarter worth $26,000. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. Olistico Wealth LLC bought a new stake in Deere & Company in the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR raised its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.