Deere & Company (NYSE:DE) Rating Lowered to “Sell” at Wall Street Zen

Deere & Company (NYSE:DE) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

DE has been the topic of a number of other research reports. UBS Group reiterated a “buy” rating on shares of Deere & Company in a report on Tuesday, October 28th. JPMorgan Chase & Co. reduced their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. Zacks Research lowered shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Finally, Oppenheimer decreased their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Trading Down 0.1%

Deere & Company stock opened at $467.41 on Friday. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market capitalization of $126.35 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 3.05 and a beta of 1.04. The company has a 50 day moving average price of $465.84 and a 200 day moving average price of $490.56.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the company earned $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company during the second quarter valued at approximately $25,000. Howard Hughes Medical Institute acquired a new stake in Deere & Company in the 2nd quarter valued at $27,000. Activest Wealth Management increased its holdings in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Deere & Company during the 1st quarter valued at $29,000. Finally, Marshall & Sullivan Inc. WA acquired a new position in Deere & Company in the second quarter worth $38,000. 68.58% of the stock is owned by institutional investors.

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.