Deere & Company (NYSE:DE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Deere’s results will be impacted by the ongoing weakness in the agricultural sector. On top of this, it will bear the brunt of elevated expenses in fiscal 2018. Unfavorable impacts of raw material prices, higher freight cost, emissions costs, incentive compensation, voluntary separation expenses and pension, and OPEB expense remain headwinds. Also, acquisition cost and purchase accounting related to the Wirtgen buyout will dampen near-term earnings. Deere’s stretched valuation is also a concern.”

A number of other research firms have also recently commented on DE. Deutsche Bank set a $155.00 price target on shares of Deere & Company and gave the stock a “hold” rating in a research note on Wednesday, September 5th. Credit Suisse Group dropped their price target on shares of Deere & Company from $231.00 to $221.00 and set an “outperform” rating for the company in a research note on Monday, August 20th. Wells Fargo & Co dropped their price target on shares of Deere & Company from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Stifel Nicolaus dropped their price target on shares of Deere & Company from $193.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Finally, Argus dropped their price target on shares of Deere & Company to $160.00 and set a “buy” rating for the company in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $177.75.

DE stock opened at $141.88 on Tuesday. Deere & Company has a 12 month low of $128.32 and a 12 month high of $175.26. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.91 and a quick ratio of 1.66. The stock has a market cap of $44.56 billion, a P/E ratio of 16.09, a PEG ratio of 2.11 and a beta of 0.97.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 21st. The industrial products company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.14). Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. The firm had revenue of $8.34 billion for the quarter, compared to analysts’ expectations of $8.59 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. Deere & Company’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 9.51 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in Deere & Company by 3.2% in the 2nd quarter. FMR LLC now owns 10,120,872 shares of the industrial products company’s stock valued at $1,414,898,000 after buying an additional 316,150 shares during the period. Capital International Investors boosted its position in Deere & Company by 2.8% in the 3rd quarter. Capital International Investors now owns 6,838,296 shares of the industrial products company’s stock valued at $1,028,001,000 after buying an additional 188,566 shares during the period. Loomis Sayles & Co. L P boosted its position in Deere & Company by 2.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,750,728 shares of the industrial products company’s stock valued at $1,014,837,000 after buying an additional 141,869 shares during the period. Bank of New York Mellon Corp boosted its position in Deere & Company by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,909,749 shares of the industrial products company’s stock valued at $587,750,000 after buying an additional 37,487 shares during the period. Finally, Capital World Investors boosted its position in Deere & Company by 6.1% in the 3rd quarter. Capital World Investors now owns 3,713,481 shares of the industrial products company’s stock valued at $558,248,000 after buying an additional 213,399 shares during the period. 65.26% of the stock is owned by institutional investors.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

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