Bunge (NYSE:BG) PT Lowered to $92.00

Bunge (NYSE:BG) had its price target reduced by research analysts at Morgan Stanley from $98.00 to $92.00 in a research report issued to clients and investors on Thursday, Analyst Ratings Network reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s target price would suggest a potential downside of 6.80% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets increased their target price on Bunge from $98.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, October 28th. JPMorgan Chase & Co. assumed coverage on Bunge in a research report on Wednesday. They issued a “hold” rating and a $94.00 target price for the company. Zacks Investment Research upgraded shares of Bunge from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Friday, October 22nd. Barclays raised their target price on shares of Bunge from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, October 28th. Finally, Stephens boosted their target price on shares of Bunge from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bunge currently has an average rating of “Buy” and a consensus target price of $98.22.

BG opened at $98.71 on Thursday. The stock has a fifty day simple moving average of $91.71 and a two-hundred day simple moving average of $84.13. The company has a current ratio of 1.69, a quick ratio of 0.87 and a debt-to-equity ratio of 0.69. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 6.20, a price-to-earnings-growth ratio of 1.56 and a beta of 0.65. Bunge has a 12-month low of $62.07 and a 12-month high of $99.93.

Bunge (NYSE:BG) last released its earnings results on Tuesday, October 26th. The basic materials company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $2.30. Bunge had a return on equity of 29.63% and a net margin of 4.31%. The firm had revenue of $14.12 billion for the quarter, compared to analysts’ expectations of $13.89 billion. During the same period in the prior year, the firm posted $2.47 earnings per share. The company’s quarterly revenue was up 39.0% on a year-over-year basis. On average, analysts predict that Bunge will post 12.19 EPS for the current year.

In other Bunge news, EVP Deborah Borg sold 769 shares of the business’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $88.59, for a total transaction of $68,125.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 36,224 shares of company stock valued at $3,198,682. Corporate insiders own 3.70% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC grew its stake in shares of Bunge by 334.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,694 shares of the basic materials company’s stock valued at $812,000 after acquiring an additional 6,693 shares during the period. Symmetry Partners LLC bought a new position in shares of Bunge during the 4th quarter valued at approximately $209,000. Brookstone Capital Management grew its stake in shares of Bunge by 12.5% during the 4th quarter. Brookstone Capital Management now owns 5,796 shares of the basic materials company’s stock valued at $562,000 after acquiring an additional 644 shares during the period. Seelaus Asset Management LLC bought a new position in shares of Bunge during the 4th quarter valued at approximately $217,000. Finally, Balyasny Asset Management LLC bought a new position in Bunge in the 3rd quarter worth approximately $23,687,000. Institutional investors own 83.16% of the company’s stock.

About Bunge

Bunge Ltd. operates as a holding company, which engages in the supply and transportation of agricultural commodities. It operates through the following segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment involves in the purchase, storage, transportation, processing, and sale of agricultural commodities and commodity products.

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Analyst Recommendations for Bunge (NYSE:BG)

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