Bank of America Has Lowered Expectations for Archer-Daniels-Midland (NYSE:ADM) Stock Price

Archer-Daniels-Midland (NYSE:ADM) had its price target dropped by stock analysts at Bank of America from $54.00 to $48.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential upside of 6.15% from the company’s current price.

Other research analysts have also issued reports about the company. Stephens lowered their target price on Archer-Daniels-Midland from $55.00 to $52.00 in a research report on Tuesday, February 4th. Morgan Stanley cut their target price on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. BMO Capital Markets decreased their price objective on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Barclays dropped their price target on shares of Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Citigroup lifted their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.11.

Archer-Daniels-Midland Stock Down 2.6 %

Shares of ADM opened at $45.22 on Tuesday. The firm has a 50 day simple moving average of $50.42 and a two-hundred day simple moving average of $55.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.44 and a quick ratio of 0.84. Archer-Daniels-Midland has a one year low of $45.01 and a one year high of $66.08. The company has a market cap of $21.64 billion, a P/E ratio of 12.53 and a beta of 0.72.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. The business had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $22.77 billion. During the same period in the prior year, the company earned $1.36 EPS. Archer-Daniels-Midland’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts forecast that Archer-Daniels-Midland will post 4.53 EPS for the current fiscal year.

Archer-Daniels-Midland announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in Archer-Daniels-Midland in the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Archer-Daniels-Midland in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. bought a new position in Archer-Daniels-Midland during the third quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in Archer-Daniels-Midland in the 4th quarter worth approximately $25,000. Finally, Raleigh Capital Management Inc. raised its holdings in Archer-Daniels-Midland by 179.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock valued at $28,000 after buying an additional 357 shares during the last quarter. Institutional investors own 78.28% of the company’s stock.

About Archer-Daniels-Midland

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.