AGCO (NYSE:AGCO) Research Coverage Started at Citigroup

Equities researchers at Citigroup assumed coverage on shares of AGCO (NYSE:AGCO) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “neutral” rating and a $108.00 price target on the industrial products company’s stock. Citigroup’s price target points to a potential upside of 9.80% from the company’s previous close.

A number of other brokerages have also recently commented on AGCO. Oppenheimer lowered their target price on AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. JPMorgan Chase & Co. cut their price target on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Truist Financial reduced their price target on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.83.

AGCO Stock Down 3.5 %

Shares of NYSE:AGCO opened at $98.36 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 0.62 and a beta of 1.31. The business has a 50-day moving average price of $109.54 and a 200 day moving average price of $114.85. AGCO has a 12-month low of $97.16 and a 12-month high of $140.46.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the firm earned $3.51 earnings per share. The firm’s revenue was down 12.1% compared to the same quarter last year. Sell-side analysts expect that AGCO will post 12.18 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AGCO. Ontario Teachers Pension Plan Board increased its position in AGCO by 30.0% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after buying an additional 7,539 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of AGCO during the fourth quarter worth about $1,082,000. UBS Group AG increased its position in AGCO by 106.8% in the 4th quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after acquiring an additional 99,212 shares during the period. Corient Private Wealth LLC raised its stake in AGCO by 176.1% during the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after acquiring an additional 13,952 shares during the last quarter. Finally, Cim LLC acquired a new stake in AGCO during the 4th quarter worth approximately $994,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.