Archer-Daniels-Midland (NYSE:ADM) Given New $66.00 Price Target at JPMorgan Chase & Co.

Archer-Daniels-Midland (NYSE:ADM) had its price target upped by JPMorgan Chase & Co. from $65.00 to $66.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Citigroup cut their price objective on Archer-Daniels-Midland from $64.00 to $63.00 and set a neutral rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $64.62.

Archer-Daniels-Midland Price Performance

Archer-Daniels-Midland stock opened at $58.91 on Wednesday. Archer-Daniels-Midland has a 52 week low of $50.72 and a 52 week high of $87.29. The business has a 50-day simple moving average of $61.95 and a 200 day simple moving average of $59.76. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. The stock has a market cap of $29.13 billion, a price-to-earnings ratio of 10.34 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.19). Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. The business had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $23.12 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Archer-Daniels-Midland’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, research analysts forecast that Archer-Daniels-Midland will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total value of $419,279.92. Following the completion of the sale, the insider now owns 8,555 shares in the company, valued at approximately $519,545.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Archer-Daniels-Midland

Institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise increased its holdings in Archer-Daniels-Midland by 83.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 29,914 shares of the company’s stock valued at $1,879,000 after acquiring an additional 13,626 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Archer-Daniels-Midland by 14.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,746 shares of the company’s stock worth $271,000 after purchasing an additional 462 shares during the last quarter. Madison Asset Management LLC boosted its stake in Archer-Daniels-Midland by 18.6% during the fourth quarter. Madison Asset Management LLC now owns 383,941 shares of the company’s stock valued at $27,728,000 after buying an additional 60,313 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Archer-Daniels-Midland during the fourth quarter valued at approximately $1,942,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Archer-Daniels-Midland by 50.3% in the fourth quarter. Victory Capital Management Inc. now owns 414,643 shares of the company’s stock valued at $29,946,000 after purchasing an additional 138,806 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other 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.