Citigroup Issues Pessimistic Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its target price cut by equities researchers at Citigroup from $470.00 to $430.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 0.27% from the company’s current price.

DE has been the subject of a number of other research reports. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Down 0.8 %

Deere & Company stock opened at $428.84 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock’s fifty day moving average is $429.20 and its two-hundred day moving average is $400.87. The firm has a market capitalization of $116.80 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the firm earned $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Analysts predict that Deere & Company will post 19.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Several large investors have recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the third quarter worth about $32,000. Modus Advisors LLC acquired a new position in Deere & Company during the 4th quarter valued at about $32,000. Centennial Bank AR raised its holdings in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors.

About Deere & Company

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.