Archer Daniels Midland (NYSE:ADM) Price Target Cut to $51.00

Archer Daniels Midland (NYSE:ADM) had its target price lowered by equities research analysts at Stifel Nicolaus from $56.00 to $51.00 in a research report issued to clients and investors on Wednesday, June 26th, MarketBeat reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 26.99% from the company’s current price.

ADM has been the topic of a number of other research reports. BMO Capital Markets boosted their price target on Discover Financial Services to $92.00 and gave the stock a “market perform” rating in a research note on Monday, April 29th. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine lowered Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Finally, Robert W. Baird restated an “outperform” rating and issued a $48.00 price objective (down previously from $54.00) on shares of Archer Daniels Midland in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.50.

Archer Daniels Midland stock traded down $0.15 during trading hours on Wednesday, reaching $40.16. The stock had a trading volume of 3,318,576 shares, compared to its average volume of 3,595,229. The company has a market capitalization of $22.23 billion, a P/E ratio of 11.47 and a beta of 1.03. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $40.68. Archer Daniels Midland has a 52 week low of $37.77 and a 52 week high of $52.06.

Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Friday, April 26th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.16). Archer Daniels Midland had a return on equity of 9.83% and a net margin of 2.57%. The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $16.19 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Archer Daniels Midland will post 3.16 earnings per share for the current fiscal year.

In related news, CEO Juan R. Luciano bought 23,657 shares of the business’s stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $42.30 per share, with a total value of $1,000,691.10. Following the purchase, the chief executive officer now directly owns 569,152 shares of the company’s stock, valued at $24,075,129.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ray G. Young bought 6,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $42.76 per share, with a total value of $256,560.00. The disclosure for this purchase can be found here. Corporate insiders own 1.11% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sawtooth Solutions LLC acquired a new position in Archer Daniels Midland during the first quarter worth approximately $589,000. Principal Financial Group Inc. increased its position in Archer Daniels Midland by 6.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,049,549 shares of the company’s stock worth $43,000,000 after buying an additional 62,319 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Archer Daniels Midland by 1.1% during the first quarter. Nomura Asset Management Co. Ltd. now owns 154,949 shares of the company’s stock worth $6,683,000 after buying an additional 1,648 shares during the period. Homrich & Berg grew its stake in shares of Archer Daniels Midland by 20.3% in the 1st quarter. Homrich & Berg now owns 24,216 shares of the company’s stock valued at $1,044,000 after purchasing an additional 4,083 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Archer Daniels Midland in the 4th quarter valued at approximately $225,928,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

About Archer Daniels Midland

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.

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Analyst Recommendations for Archer Daniels Midland (NYSE:ADM)

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