AGCO (NYSE:AGCO) Price Target Cut to $130.00

AGCO (NYSE:AGCO) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $135.00 to $130.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 32.82% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Citigroup initiated coverage on shares of AGCO in a research report on Wednesday. They set a “neutral” rating and a $108.00 target price on the stock. Raymond James initiated coverage on shares of AGCO in a research report on Friday. They set a “market perform” rating on the stock. Oppenheimer reduced their target price on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Finally, Truist Financial reduced their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.00.

AGCO Price Performance

NYSE:AGCO opened at $97.88 on Friday. The firm has a market cap of $7.30 billion, a PE ratio of 6.62, a price-to-earnings-growth ratio of 0.61 and a beta of 1.31. AGCO has a 12 month low of $96.60 and a 12 month high of $140.46. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $108.42 and its two-hundred day moving average price is $114.51.

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

Institutional Investors Weigh In On AGCO

A number of institutional investors and hedge funds have recently modified their holdings of AGCO. Massachusetts Financial Services Co. MA increased its stake in AGCO by 3,115.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock valued at $144,785,000 after purchasing an additional 1,155,440 shares in the last quarter. Vanguard Group Inc. increased its stake in AGCO by 11.6% in the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after purchasing an additional 784,617 shares in the last quarter. Pacer Advisors Inc. increased its stake in AGCO by 7,297.1% in the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after purchasing an additional 713,142 shares in the last quarter. Norges Bank bought a new stake in AGCO in the fourth quarter valued at approximately $83,733,000. Finally, Royal London Asset Management Ltd. bought a new stake in AGCO in the third quarter valued at approximately $38,690,000. 78.80% of the stock is owned by institutional investors.

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.