Archer-Daniels-Midland (NYSE:ADM) Downgraded to Underperform Rating by Bank of America

Archer-Daniels-Midland (NYSE:ADM) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They presently have a $54.00 target price on the stock, down from their prior target price of $63.00. Bank of America‘s price objective suggests a potential upside of 3.65% from the stock’s previous close.

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

Archer-Daniels-Midland Trading Up 2.0 %

Shares of NYSE:ADM opened at $52.10 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 company has a market capitalization of $24.93 billion, a PE ratio of 14.89 and a beta of 0.72. Archer-Daniels-Midland has a 12-month low of $48.40 and a 12-month high of $69.85. The business’s fifty day simple moving average is $51.84 and its 200-day simple moving average is $57.09.

Archer-Daniels-Midland announced that its board has authorized a share buyback program on Wednesday, December 11th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC grew its stake in shares of Archer-Daniels-Midland by 4.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 4,015 shares of the company’s stock worth $240,000 after purchasing an additional 183 shares during the period. OLD National Bancorp IN boosted its stake in shares of Archer-Daniels-Midland by 0.9% during the 3rd quarter. OLD National Bancorp IN now owns 20,648 shares of the company’s stock worth $1,234,000 after acquiring an additional 189 shares in the last quarter. UMB Bank n.a. grew its position in shares of Archer-Daniels-Midland by 3.4% during the 3rd quarter. UMB Bank n.a. now owns 5,830 shares of the company’s stock valued at $348,000 after acquiring an additional 194 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Archer-Daniels-Midland by 4.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,125 shares of the company’s stock valued at $306,000 after purchasing an additional 201 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its holdings in Archer-Daniels-Midland by 3.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 6,591 shares of the company’s stock worth $394,000 after purchasing an additional 210 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Archer-Daniels-Midland Company Profile

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.