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

Archer-Daniels-Midland (NYSE:ADM) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $54.00 price objective on the stock, down from their prior price objective of $63.00. Bank of America‘s price objective points to a potential upside of 5.57% from the stock’s previous close.

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

Archer-Daniels-Midland Stock Performance

Archer-Daniels-Midland stock opened at $51.15 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84. Archer-Daniels-Midland has a 12 month low of $48.40 and a 12 month high of $69.85. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 14.61 and a beta of 0.72. The stock’s 50-day moving average is $51.82 and its 200-day moving average is $57.02.

Archer-Daniels-Midland declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Archer-Daniels-Midland

A number of hedge funds and other institutional investors have recently made changes to their positions in ADM. Harbor Capital Advisors Inc. bought a new position in Archer-Daniels-Midland during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in Archer-Daniels-Midland in the 3rd quarter valued at about $26,000. Altshuler Shaham Ltd bought a new position in shares of Archer-Daniels-Midland during the 2nd quarter valued at about $28,000. Peterson Financial Group Inc. acquired a new position in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $28,000. Finally, ST Germain D J Co. Inc. lifted its stake in Archer-Daniels-Midland by 724.6% during the fourth quarter. ST Germain D J Co. Inc. now owns 569 shares of the company’s stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors.

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.