Bank of America Cuts Adecoagro (NYSE:AGRO) Price Target to $14.50

Adecoagro (NYSE:AGRO) had its price objective lowered by Bank of America from $15.50 to $14.50 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Adecoagro from an underweight rating to a neutral rating and increased their price target for the company from $10.50 to $11.50 in a research note on Monday, July 1st. StockNews.com lowered shares of Adecoagro from a buy rating to a hold rating in a research report on Tuesday, August 13th.

Adecoagro Stock Performance

Shares of AGRO opened at $11.21 on Monday. Adecoagro has a 12 month low of $8.72 and a 12 month high of $12.51. The firm has a fifty day simple moving average of $10.19 and a 200 day simple moving average of $10.28. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 4.75, a PEG ratio of 1.83 and a beta of 1.08. The company has a current ratio of 2.42, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings results on Monday, August 12th. The company reported $1.03 EPS for the quarter. The firm had revenue of $411.42 million during the quarter. Adecoagro had a net margin of 16.28% and a return on equity of 14.91%. Research analysts forecast that Adecoagro will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Adecoagro

Several hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Adecoagro in the 2nd quarter valued at approximately $42,000. Quarry LP boosted its stake in shares of Adecoagro by 259.4% in the 2nd quarter. Quarry LP now owns 7,598 shares of the company’s stock valued at $74,000 after purchasing an additional 5,484 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Adecoagro in the 1st quarter valued at approximately $128,000. BigSur Wealth Management LLC acquired a new stake in shares of Adecoagro in the 2nd quarter valued at approximately $175,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Adecoagro in the 1st quarter valued at approximately $176,000. 45.25% of the stock is owned by institutional investors.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.