Deere & Company (DE) is Downgraded by UBS to Neutral, Lowers Price Target to $ 80

Deere & Company (DE) was Downgraded by UBS to ” Neutral” while Lowering the Price Target of the company shares to $ 80 from a previous price target of $94 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Jul 29, 2016.

Many Wall Street Analysts have commented on Deere & Company. Deere & Company was Downgraded by Piper Jaffray to ” Underweight” on Jul 25, 2016. Deere & Company was Upgraded by Goldman to ” Buy” on Jun 3, 2016. Company shares were Upgraded by UBS on May 31, 2016 to ” Buy”, Firm has raised the Price Target to $ 94 from a previous price target of $82 .

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 -0.28 points or -0.36% at $78.17 with 40,12,409 shares getting traded on Thursday. Post opening the session at $78.48, the shares hit an intraday low of $77.81 and an intraday high of $78.555 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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