Bank of America Has Lowered Expectations for Bunge Global (NYSE:BG) Stock Price

Bunge Global (NYSE:BG) had its target price dropped by stock analysts at Bank of America from $105.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price objective would indicate a potential upside of 25.56% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Stephens decreased their target price on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Barclays lowered their price target on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.40.

Bunge Global Trading Up 0.2 %

Shares of NYSE BG traded up $0.13 during midday trading on Tuesday, hitting $69.29. The stock had a trading volume of 70,233 shares, compared to its average volume of 1,579,593. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global has a 1-year low of $67.40 and a 1-year high of $114.92. The company has a fifty day moving average price of $78.94 and a 200 day moving average price of $89.25. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 8.56 and a beta of 0.69.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. On average, analysts predict that Bunge Global will post 7.75 earnings per share for the current year.

Institutional Trading of Bunge Global

Several institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management bought a new stake in shares of Bunge Global during the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bunge Global during the third quarter worth about $34,000. Farther Finance Advisors LLC increased its stake in shares of Bunge Global by 40.1% in the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after buying an additional 124 shares during the period. Crews Bank & Trust bought a new stake in Bunge Global during the 4th quarter worth approximately $39,000. Finally, R Squared Ltd acquired a new position in shares of Bunge Global during the fourth quarter worth $45,000. 86.23% of the stock is currently owned by institutional investors.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.