Sanford C. Bernstein Raises Deere & Company (NYSE:DE) Price Target to $521.00

Deere & Company (NYSE:DE) had its price objective upped by equities research analysts at Sanford C. Bernstein from $487.00 to $521.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has a “market perform” rating on the industrial products company’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 9.88% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday. Citigroup cut their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group lowered their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Oppenheimer decreased their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Finally, Royal Bank Of Canada initiated coverage on shares of Deere & Company in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $520.05.

Deere & Company Price Performance

Shares of NYSE:DE traded up $0.73 during trading on Thursday, hitting $474.14. 54,483 shares of the stock were exchanged, compared to its average volume of 1,345,008. The company has a market cap of $128.17 billion, a PE ratio of 24.82, a P/E/G ratio of 3.05 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a fifty day moving average price of $465.98 and a two-hundred day moving average price of $490.57. Deere & Company has a 12-month low of $390.00 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the business earned $6.29 earnings per share. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mid American Wealth Advisory Group Inc. bought a new stake in Deere & Company during the second quarter worth approximately $25,000. Activest Wealth Management boosted its stake in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Howard Hughes Medical Institute acquired a new position in Deere & Company in the 2nd quarter valued at approximately $27,000. Wealth Watch Advisors INC bought a new stake in Deere & Company in the third quarter valued at about $32,000. Finally, Marshall & Sullivan Inc. WA bought a new position in Deere & Company during the second quarter worth about $38,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.