Deere & Company (NYSE:DE) Downgraded to Sell Rating by Wall Street Zen

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

Other analysts also recently issued research reports about the company. Citigroup dropped their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Robert W. Baird decreased their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday, October 13th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Wolfe Research cut their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, DA Davidson reduced their price target on shares of 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 research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Trading Down 1.8%

Shares of Deere & Company stock opened at $466.98 on Friday. The firm’s 50 day simple moving average is $465.84 and its two-hundred day simple moving average is $490.08. The firm has a market capitalization of $126.24 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.05 and a beta of 1.04. 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.

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

Institutional Trading of Deere & Company

Large investors have recently made changes to their positions in the stock. Southland Equity Partners LLC boosted its holdings in shares of Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 20 shares during the last quarter. Vivid Wealth Management LLC increased its stake in Deere & Company by 1.9% in the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management lifted its position in Deere & Company by 3.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after buying an additional 20 shares during the period. Prairie Wealth Advisors Inc. boosted its stake in Deere & Company by 2.1% in the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after buying an additional 20 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after buying an additional 21 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.