Barclays Gives a Sell Rating to Deere

By Ryan Adsit

Barclays analyst Robert Wertheimer maintained a Sell rating on Deere (NYSE: DE) yesterday and set a price target of $82. The company’s shares closed yesterday at $108.80.

According to TipRanks.com, Wertheimer is a 1-star analyst with an average return of -2.1% and a 48.8% success rate. Wertheimer covers the Industrial Goods sector, focusing on stocks such as Stanley Black & Decker Inc, Lincoln Electric Holdings, and Manitowoc Foodservice.

Deere has an analyst consensus of Hold, with a price target consensus of $117.

Based on Deere’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $5.62 billion and quarterly net profit of $194 million. In comparison, last year the company earned revenue of $5.52 billion and had a net profit of $254 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Deere & Co. manufactures and distributes a complete line of equipment used in agriculture, construction, forestry, and turf care. It also manufactures engines and other power train components. The company also provides credit and other services to customers around the world. It operates its business through the following segments: Agriculture & Turf, Construction & Forestry, and Financial Services. The Agriculture & Turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts, including large, medium and utility tractors; loaders; combines, corn pickers, cotton and sugarcane harvesters and related front-end equipment and sugarcane loaders; tillage, seeding and application equipment, including sprayers, nutrient management and soil preparation machinery; hay and forage equipment, including self-propelled forage harvesters and attachments, balers and mowers; turf and utility equipment, including riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment, along with a broad line of associated implements; integrated agricultural management systems technology; precision agricultural irrigation equipment and supplies; landscape and nursery products; and other outdoor power products. The Construction & Forestry segment primarily manufactures and distributes machines and service parts used in construction, earthmoving, material handling and timber harvesting, including backhoe loaders; crawler dozers and loaders; four-wheel-drive loaders; excavators; motor graders; articulated dump trucks; landscape loaders; skid-steer loaders; and log skidders, feller bunchers, log loaders, log forwarders, log harvesters and related attachments. The Financial Services segment primarily finances sales and leases by dealers of new and used agriculture and turf equipment and construction & forestry equipment. This segment also provides wholesale financing to dealers of the foregoing equipment, finances retail revolving charge accounts and operating loans and offers crop risk mitigation products and extended equipment warranties. Deere was founded by John Deere in 1837 and is headquartered in Moline, IL.