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Deere & Company (DE) Looks Good: Stock Adds 5.8% In Session

Published 05/21/2018, 08:52 AM
Updated 07/09/2023, 06:31 AM

Deere & Company (NYSE:DE) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 6.3% in the past one-month time frame.

The move came after the company raised outlook for fiscal 2018 on the back of strong demand for its construction equipment and also declared plans to hike prices to offset the impact of increasing costs.

The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Deere & Company currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Investors interested in the Manufacturing - Farm Equipment industry may consider Titan International, Inc. (NYSE:TWI) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Deere & Company (DE): Free Stock Analysis Report

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