Sanford C. Bernstein Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its price target lifted by research analysts at Sanford C. Bernstein from $487.00 to $521.00 in a research report issued on Thursday,MarketScreener reports. The firm presently has a “market perform” rating on the industrial products company’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 9.88% from the company’s previous close.

A number of other equities analysts have also issued reports on DE. Oppenheimer reduced 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. Citigroup reduced their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. DA Davidson decreased their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Finally, UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $520.05.

Deere & Company Stock Performance

Deere & Company stock traded up $0.73 during mid-day trading on Thursday, reaching $474.14. 54,483 shares of the company traded hands, compared to its average volume of 1,345,008. The firm’s fifty day moving average is $465.98 and its two-hundred day moving average is $490.57. The company has a market capitalization of $128.17 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. Deere & Company has a fifty-two week low of $390.00 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the firm posted $6.29 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds have recently made changes to their positions in DE. iSAM Funds UK Ltd boosted its position in Deere & Company by 105.4% in the 3rd quarter. iSAM Funds UK Ltd now owns 4,726 shares of the industrial products company’s stock valued at $2,161,000 after buying an additional 2,425 shares during the period. Bank of Hawaii grew its position in shares of Deere & Company by 23.9% in the 3rd quarter. Bank of Hawaii now owns 684 shares of the industrial products company’s stock valued at $313,000 after buying an additional 132 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $218,000. von Borstel & Associates Inc. acquired a new stake in shares of Deere & Company during the third quarter worth about $230,000. Finally, NorthRock Partners LLC grew its position in Deere & Company by 9.2% in the 3rd quarter. NorthRock Partners LLC now owns 5,450 shares of the industrial products company’s stock valued at $2,492,000 after buying an additional 459 shares during the last quarter. Hedge funds and other 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.