Deere Gets a Buy from BMO Capital

By Ryan Adsit

In a report released today, Joel Tiss from BMO Capital reiterated a Buy rating on Deere (NYSE: DE), with a price target of $128. The company’s shares closed yesterday at $108.22.

According to TipRanks.com, Tiss is a 4-star analyst with an average return of 10.3% and a 66.0% success rate. Tiss covers the Industrial Goods sector, focusing on stocks such as Illinois Tool Works, The Middleby Corp, and Parker Hannifin.

Currently, the analyst consensus on Deere is Moderate Buy and the average price target is $117, representing an 8.1% upside.

In a report issued on April 11, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $126 price target.

Deere’s market cap is currently $34.37B and has a P/E ratio of 23.42. The company has a book value ratio of 5.0465.

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.