Deere & Company (DE) is Reiterated by Piper Jaffray to Neutral, Raises Price Target to $ 76

Deere & Company (DE) was Reiterated by Piper Jaffray to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 76 from a previous price target of $75 . Piper Jaffray advised their investors in a research report released on May 23, 2016.

Many Wall Street Analysts have commented on Deere & Company. Argus Upgraded Deere & Company on Feb 24, 2016 to ” Buy”, Price Target of the shares are set at $85.

On the company’s financial health, Deere & Company reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 20, 2016. Analyst had a consensus of $1.48. The company had revenue of $7107.00 million for the quarter, compared to analysts expectations of $6659.63 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.03 EPS.

Deere & Company closed down -4.51 points or -5.48% at $77.74 with 1,23,50,172 shares getting traded on Friday. Post opening the session at $80.8, the shares hit an intraday low of $77.5 and an intraday high of $80.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Dec 2, 2015, Rajesh Kalathur (Senior Vice President & CFO) sold 4,366 shares at $79.52 per share price. According to the SEC, on Jul 1, 2015, Jean H Gilles (Senior Vice President) sold 4,463 shares at $98.21 per share price. On Jun 30, 2015, Max A Guinn (President, WW C&F, Lbr Rltns) sold 14,374 shares at $97.32 per share price, according to the Form-4 filing with the securities and exchange commission.

Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf construction and forestry and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts. The Company’s construction and forestry segment primarily manufactures and distributes a range of machines and service parts used in construction earthmoving material handling and timber harvesting. The Company’s financial services segment primarily provides credit services which include finance sales and leases by John Deere dealers of new and used agriculture and turf equipment and construction and forestry equipment.

Deere & Company

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