AGCO (NYSE:AGCO) Receives New Coverage from Analysts at Raymond James

Equities researchers at Raymond James initiated coverage on shares of AGCO (NYSE:AGCO) in a report released on Friday, Briefing.com reports. The brokerage set a “market perform” rating on the industrial products company’s stock.

Several other research firms have also recently issued reports on AGCO. Truist Financial decreased their price objective on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Citigroup began coverage on shares of AGCO in a report on Wednesday. They issued a “neutral” rating and a $108.00 price objective for the company. Oppenheimer decreased their price objective on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, AGCO currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.83.

AGCO Price Performance

Shares of NYSE:AGCO opened at $98.82 on Friday. The firm’s 50 day moving average is $108.84 and its two-hundred day moving average is $114.63. AGCO has a 52 week low of $96.60 and a 52 week high of $140.46. The firm has a market capitalization of $7.37 billion, a P/E ratio of 6.69, a PEG ratio of 0.60 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the business earned $3.51 earnings per share. AGCO’s revenue was down 12.1% compared to the same quarter last year. Analysts anticipate that AGCO will post 12.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AGCO. Massachusetts Financial Services Co. MA grew its position in AGCO by 3,115.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock worth $144,785,000 after purchasing an additional 1,155,440 shares in the last quarter. Vanguard Group Inc. grew its position in AGCO by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after purchasing an additional 784,617 shares in the last quarter. Pacer Advisors Inc. grew its position in AGCO by 7,297.1% during the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after purchasing an additional 713,142 shares in the last quarter. Norges Bank purchased a new position in AGCO during the 4th quarter worth approximately $83,733,000. Finally, Royal London Asset Management Ltd. purchased a new position in AGCO during the 3rd quarter worth approximately $38,690,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Company Profile

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.