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

Deere & Company (NYSE:DE) had its target price lowered by Wolfe Research from $550.00 to $520.00 in a note issued to investors on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Wolfe Research’s price objective would indicate a potential upside of 12.41% from the company’s current price.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Truist Financial dropped their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Daiwa Capital Markets reduced their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Finally, DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $518.18.

Deere & Company Trading Up 0.2%

Shares of Deere & Company stock opened at $462.59 on Friday. The company has a 50-day moving average of $484.64 and a two-hundred day moving average of $489.15. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. 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 stock has a market cap of $125.05 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02.

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

Hedge Funds Weigh In On Deere & Company

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the period. State Street Corp grew its stake in Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after buying an additional 64,262 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after buying an additional 286,253 shares during the period. Geode Capital Management LLC lifted its stake in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after buying an additional 111,627 shares during the last quarter. Finally, Norges Bank bought a new stake in Deere & Company in the second quarter valued at $1,578,243,000. Institutional investors 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.