Citigroup Forecasts Strong Price Appreciation for Archer-Daniels-Midland (NYSE:ADM) Stock

Archer-Daniels-Midland (NYSE:ADM) had its target price upped by equities research analysts at Citigroup from $51.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 5.18% from the company’s previous close.

ADM has been the topic of several other research reports. Barclays lowered their price objective on shares of Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday. Morgan Stanley lowered their price objective 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. BMO Capital Markets lowered their price target on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, UBS Group lifted their target price on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, Archer-Daniels-Midland presently has an average rating of “Hold” and an average target price of $61.08.

Archer-Daniels-Midland Stock Performance

Shares of NYSE:ADM opened at $52.29 on Wednesday. Archer-Daniels-Midland has a 12-month low of $48.92 and a 12-month high of $77.35. The company’s 50 day moving average price is $55.34 and its two-hundred day moving average price is $59.03. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The firm has a market cap of $25.02 billion, a PE ratio of 14.94 and a beta of 0.72.

Hedge Funds Weigh In On Archer-Daniels-Midland

Institutional investors and hedge funds have recently modified their holdings of the stock. Peapack Gladstone Financial Corp boosted its position in Archer-Daniels-Midland by 3.6% during the third quarter. Peapack Gladstone Financial Corp now owns 16,354 shares of the company’s stock worth $977,000 after purchasing an additional 574 shares in the last quarter. Synovus Financial Corp lifted its stake in Archer-Daniels-Midland by 3.6% in the 3rd quarter. Synovus Financial Corp now owns 16,858 shares of the company’s stock worth $1,007,000 after purchasing an additional 582 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth $425,000. World Investment Advisors LLC purchased a new position in Archer-Daniels-Midland during the third quarter worth about $1,204,000. Finally, Virtu Financial LLC purchased a new position in Archer-Daniels-Midland in the third quarter worth approximately $981,000. Institutional investors and hedge funds own 78.28% of the company’s stock.

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.