AGCO Co. (NYSE:AGCO) Short Interest Update

AGCO Co. (NYSE:AGCO) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,200,000 shares, an increase of 9.5% from the May 31st total of 2,010,000 shares. Based on an average daily trading volume, of 744,200 shares, the days-to-cover ratio is currently 3.0 days. Approximately 3.6% of the shares of the stock are short sold.

AGCO Price Performance

NYSE:AGCO opened at $95.55 on Tuesday. AGCO has a one year low of $95.03 and a one year high of $140.46. The stock has a market cap of $7.13 billion, a PE ratio of 6.46, a P/E/G ratio of 0.62 and a beta of 1.27. 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 50 day moving average price of $107.95 and a 200 day moving average price of $114.30.

AGCO (NYSE:AGCO) last issued its 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. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. AGCO’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.51 earnings per share. Equities research analysts expect that AGCO will post 11.82 EPS for the current fiscal year.

AGCO Cuts Dividend

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

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AGCO shares. Raymond James started coverage on shares of AGCO in a research note on Friday. They issued a “market perform” rating on the stock. Citigroup started coverage on shares of AGCO in a research report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price target for the company. Truist Financial lowered their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. reduced their target price on AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday. Finally, Oppenheimer lowered their price target on AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

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.