Why Deere & Company (DE) Stock Might be a Great Pick

One stock that might be an intriguing choice for investors right now is Deere & Company DE. This is because this security in the Manufacturing - Farm Equipment space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Manufacturing - Farm Equipment space as it currently has a Zacks Industry Rank of 15 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Deere & Company is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Deere & Company Price and Consensus

Deere & Company Price and Consensus | Deere & Company Quote

In fact, over the past month, current quarter estimates have risen from $1.55 per share to $1.85 per share, while current year estimates have risen from $4.95 per share to $6.31 per share. This has helped DE to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Deere & Company. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Click for Free Deere & Company (DE) Stock Analysis Report >>
 
To read this article on Zacks.com click here.
 
Zacks Investment Research