Deere Gets a Hold Rating from Piper Jaffray

By Carrie Williams

Piper Jaffray analyst Brett Wong reiterated a Hold rating on Deere (NYSE: DE) today and set a price target of $160.

According to TipRanks.com, Wong is a 3-star analyst with an average return of 1.5% and a 51.8% success rate. Wong covers the Consumer Goods sector, focusing on stocks such as Trimble Navigation Limited, American Vanguard Corp, and Archer Daniels Midland.

Deere has an analyst consensus of Strong Buy, with a price target consensus of $181.67.

Based on Deere’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $8.02 billion and quarterly net profit of $510 million. In comparison, last year the company earned revenue of $5.62 billion and had a net profit of $194 million.

Based on the recent corporate insider activity of 104 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. It operates its business through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services.