StockNews.com Upgrades Bunge (NYSE:BG) to “Buy”

Bunge (NYSE:BGGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on BG. Barclays raised their price target on Bunge from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, April 25th. Bank of America cut Bunge from a “buy” rating to a “neutral” rating and raised their price target for the company from $120.00 to $134.00 in a report on Tuesday, April 19th. Finally, Credit Suisse Group raised their price target on Bunge from $120.00 to $140.00 in a report on Thursday, April 28th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Bunge presently has an average rating of “Moderate Buy” and a consensus target price of $112.75.

NYSE BG opened at $87.39 on Wednesday. The company has a market capitalization of $13.26 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 1.15 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.71 and a current ratio of 1.51. The business’s fifty day moving average is $111.95 and its 200 day moving average is $104.91. Bunge has a fifty-two week low of $71.73 and a fifty-two week high of $128.40.

Bunge (NYSE:BGGet Rating) last released its earnings results on Wednesday, April 27th. The basic materials company reported $4.26 earnings per share for the quarter, beating the consensus estimate of $3.24 by $1.02. The company had revenue of $15.88 billion for the quarter, compared to the consensus estimate of $14.63 billion. Bunge had a return on equity of 28.87% and a net margin of 3.07%. Bunge’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 earnings per share. On average, sell-side analysts forecast that Bunge will post 12.87 EPS for the current year.

In other news, insider Jerry Matthews Simmons, Jr. sold 44,666 shares of Bunge stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $114.98, for a total value of $5,135,696.68. Following the sale, the insider now directly owns 33,654 shares of the company’s stock, valued at $3,869,536.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corbenic Partners LLC purchased a new position in Bunge in the first quarter worth about $34,000. Curi Wealth Management LLC purchased a new position in shares of Bunge during the fourth quarter valued at approximately $28,000. Pinnacle Holdings LLC purchased a new position in shares of Bunge during the first quarter valued at approximately $36,000. MV Capital Management Inc. purchased a new position in shares of Bunge during the first quarter valued at approximately $43,000. Finally, Riverview Trust Co boosted its position in shares of Bunge by 100.5% during the first quarter. Riverview Trust Co now owns 391 shares of the basic materials company’s stock valued at $43,000 after buying an additional 196 shares during the period. Institutional investors own 86.11% of the company’s stock.

Bunge Company Profile (Get Rating)

Bunge Limited 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 primarily wheat and corn; and processes oilseeds into vegetable oils and protein meals.

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