AGCO (NYSE:AGCO) Sets New 52-Week Low Following Analyst Downgrade

AGCO Co. (NYSE:AGCO) shares hit a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $135.00 to $130.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. AGCO traded as low as $95.95 and last traded at $96.00, with a volume of 86841 shares trading hands. The stock had previously closed at $97.88.

Several other research firms have also recently weighed in on AGCO. Citigroup initiated coverage on AGCO in a report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price target for the company. Oppenheimer cut their price target on AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Truist Financial dropped their target price on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, Raymond James assumed coverage on AGCO in a report on Friday. They issued a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Institutional Investors Weigh In On AGCO

Institutional investors and hedge funds have recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in shares of AGCO in the 4th quarter worth $26,000. FinTrust Capital Advisors LLC raised its position in shares of AGCO by 121.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 117 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in AGCO during the 1st quarter worth $30,000. Finally, Allworth Financial LP grew its stake in AGCO by 72.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after buying an additional 120 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Trading Down 2.3 %

The company has a 50 day moving average of $108.42 and a two-hundred day moving average of $114.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The stock has a market capitalization of $7.13 billion, a PE ratio of 6.62, a P/E/G ratio of 0.62 and a beta of 1.27.

AGCO (NYSE:AGCO) last announced its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the business earned $3.51 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. Sell-side analysts predict that AGCO Co. will post 11.82 EPS for the current year.

AGCO Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a yield of 1%. AGCO’s payout ratio is presently 7.85%.

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.