Oppenheimer Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its price objective hoisted by research analysts at Oppenheimer from $477.00 to $507.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective would indicate a potential upside of 4.86% from the stock’s current price.

Several other equities research analysts have also weighed in on DE. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Finally, UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Eleven investment 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, the stock currently has an average rating of “Hold” and a consensus price target of $444.50.

Deere & Company Trading Up 1.0 %

NYSE:DE opened at $483.49 on Tuesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $484.39. The firm has a market cap of $131.68 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company’s 50 day moving average is $438.55 and its 200-day moving average is $406.44.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 19.34 EPS for the current year.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the company. Modus Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth about $32,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the third quarter worth about $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the fourth quarter worth about $35,000. Finally, Centennial Bank AR grew 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 worth $39,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.