Archer-Daniels-Midland (NYSE:ADM) Stock Rating Lowered by Bank of America

Archer-Daniels-Midland (NYSE:ADM) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $54.00 price target on the stock, down from their previous price target of $63.00. Bank of America‘s price target suggests a potential upside of 5.57% from the stock’s current price.

ADM has been the subject of a number of other reports. Citigroup upped their target price on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. BMO Capital Markets lowered their target price on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a research note on Wednesday, December 4th. Morgan Stanley decreased their price target on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Stephens started coverage on shares of Archer-Daniels-Midland in a research report on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Finally, Barclays cut their price objective on shares of Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating for the company in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, Archer-Daniels-Midland presently has an average rating of “Hold” and a consensus target price of $59.08.

Archer-Daniels-Midland Price Performance

Shares of NYSE ADM opened at $51.15 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market cap of $24.48 billion, a P/E ratio of 14.61 and a beta of 0.72. The stock has a 50 day moving average of $51.82 and a two-hundred day moving average of $57.02. Archer-Daniels-Midland has a twelve month low of $48.40 and a twelve month high of $69.85.

Archer-Daniels-Midland declared that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Archer-Daniels-Midland

Institutional investors and hedge funds have recently bought and sold shares of the stock. Monarch Capital Management Inc. boosted its stake in shares of Archer-Daniels-Midland by 9.1% during the fourth quarter. Monarch Capital Management Inc. now owns 12,080 shares of the company’s stock valued at $610,000 after acquiring an additional 1,010 shares during the last quarter. HB Wealth Management LLC boosted its position in Archer-Daniels-Midland by 2.2% during the fourth quarter. HB Wealth Management LLC now owns 35,359 shares of the company’s stock worth $1,786,000 after acquiring an additional 768 shares during the last quarter. Verity & Verity LLC raised its holdings in Archer-Daniels-Midland by 7.8% in the 4th quarter. Verity & Verity LLC now owns 170,273 shares of the company’s stock valued at $8,602,000 after acquiring an additional 12,388 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in shares of Archer-Daniels-Midland by 2.7% during the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 13,144 shares of the company’s stock worth $664,000 after purchasing an additional 350 shares during the period. Finally, Merit Financial Group LLC grew its position in shares of Archer-Daniels-Midland by 11.6% in the fourth quarter. Merit Financial Group LLC now owns 5,344 shares of the company’s stock valued at $270,000 after purchasing an additional 555 shares during the period. Hedge funds and other 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.