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 research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They presently have a $54.00 price target on the stock, down from their previous price target of $63.00. Bank of America‘s price objective indicates a potential upside of 3.65% from the company’s previous close.

Several other brokerages have also recently issued reports on ADM. Barclays decreased their price objective on Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday, December 4th. BMO Capital Markets decreased their price target on shares of 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. Stephens initiated coverage on shares of Archer-Daniels-Midland in a research note on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 price objective for the company. 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 research report on Wednesday, December 4th. Finally, Morgan Stanley dropped their price target on 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. Two equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.08.

Archer-Daniels-Midland Stock Up 2.0 %

ADM opened at $52.10 on Tuesday. The firm has a 50-day simple moving average of $51.84 and a two-hundred day simple moving average of $57.09. Archer-Daniels-Midland has a 52 week low of $48.40 and a 52 week high of $69.85. The company has a market capitalization of $24.93 billion, a PE ratio of 14.89 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADM. State Street Corp grew its stake in Archer-Daniels-Midland by 3.3% in the 3rd quarter. State Street Corp now owns 32,045,672 shares of the company’s stock worth $1,914,408,000 after acquiring an additional 1,018,256 shares in the last quarter. Wellington Management Group LLP raised its position in Archer-Daniels-Midland by 41.5% during the 3rd quarter. Wellington Management Group LLP now owns 19,430,111 shares of the company’s stock valued at $1,160,755,000 after purchasing an additional 5,702,451 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Archer-Daniels-Midland by 6.4% during the 3rd quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company’s stock worth $483,084,000 after buying an additional 489,554 shares in the last quarter. FMR LLC increased its stake in shares of Archer-Daniels-Midland by 33.9% during the third quarter. FMR LLC now owns 3,979,867 shares of the company’s stock valued at $237,757,000 after buying an additional 1,007,494 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Archer-Daniels-Midland by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,607,843 shares of the company’s stock valued at $215,533,000 after acquiring an additional 63,883 shares in the last quarter. 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.