Barclays Upgrades Bunge Global (NYSE:BG) to “Overweight”

Bunge Global (NYSE:BG) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a $120.00 target price on the basic materials company’s stock, up from their previous target price of $105.00. Barclays‘s target price points to a potential upside of 26.94% from the stock’s previous close.

Several other research analysts have also recently weighed in on BG. JPMorgan Chase & Co. upped their price target on shares of Bunge Global from $95.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. BMO Capital Markets boosted their target price on Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Morgan Stanley set a $95.00 target price on Bunge Global in a research note on Monday, October 27th. Stephens lifted their price target on Bunge Global from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Zacks Research raised Bunge Global from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.57.

Bunge Global Stock Down 0.2%

Shares of NYSE BG opened at $94.54 on Thursday. The business has a 50-day simple moving average of $86.72 and a two-hundred day simple moving average of $82.12. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. Bunge Global has a 52 week low of $67.40 and a 52 week high of $99.55. The company has a market cap of $18.28 billion, a P/E ratio of 9.44, a P/E/G ratio of 8.28 and a beta of 0.76.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.04. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. Bunge Global’s revenue was up 71.6% on a year-over-year basis. Research analysts anticipate that Bunge Global will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Bunge Global

In other news, Director Christopher Mahoney bought 5,000 shares of the business’s stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $81.73 per share, with a total value of $408,650.00. Following the completion of the purchase, the director directly owned 7,164 shares in the company, valued at $585,513.72. This represents a 231.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Bunge Global

Several institutional investors have recently added to or reduced their stakes in BG. CoreCap Advisors LLC increased its holdings in shares of Bunge Global by 2,000.0% in the third quarter. CoreCap Advisors LLC now owns 315 shares of the basic materials company’s stock worth $26,000 after buying an additional 300 shares during the period. Cromwell Holdings LLC grew its position in Bunge Global by 4,175.0% during the 2nd quarter. Cromwell Holdings LLC now owns 342 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 334 shares during the last quarter. Root Financial Partners LLC bought a new position in Bunge Global during the 3rd quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new position in Bunge Global in the 2nd quarter worth approximately $29,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Bunge Global in the second quarter valued at approximately $31,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Company Profile

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.