This company has seen some headwinds from the strong dollar, but it remains a very solid long-term buy. Deere manufactures and distributes agriculture, construction and forestry equipment worldwide. The company’s Agriculture and Turf segment provides 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; and tillage, seeding and application equipment, including sprayers, nutrient management and soil preparation machinery.
Deere’s Construction and Forestry segment provides 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 that are used in construction, earth moving, material handling and timber harvesting applications.
It also has a financial services division that helps with product financing, and any pickup in domestic and foreign growth would be a huge tailwind for the company.
When Warren Buffett released his holdings a week ago he still maintained his sizable investment in Deere. Buffett owns approximately 17.3 million shares which is valued in the area of $1.57 billion.
ALSO READ: 6 Analyst Stocks Called to Rise 50% or More
A few analysts weighed in on Deere ahead of earnings:
- William Blair reiterated a Sell rating with a $80 price target.
- Goldman Sachs upgraded the company to a Neutral rating from Sell and raised the price target to $94 from $78.
- Global Hunter Securities raised its price target to $94 from $88.
So far in 2015 Deere shares have outperformed the market; the stock is up just over 5% year to date and up over 10% in the past 52-weeks.
Shares of Deere were down 1.3% at $90.83 on Thursday afternoon. The stock has a consensus analyst price target of $89.06 and a 52-week trading range of $78.88 to $98.23.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
