AGCO (NYSE:AGCO) Lowered to Sell Rating by StockNews.com

AGCO (NYSE:AGCO) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other brokerages have also commented on AGCO. The Goldman Sachs Group cut their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird cut their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Truist Financial increased their price objective on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer dropped their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $114.40.

AGCO Stock Up 2.1 %

AGCO opened at $101.46 on Thursday. AGCO has a 1-year low of $84.35 and a 1-year high of $130.26. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 44.89, a P/E/G ratio of 0.57 and a beta of 1.25. The business has a 50 day moving average of $96.82 and a 200-day moving average of $97.29.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.97 earnings per share. As a group, sell-side analysts anticipate that AGCO will post 7.34 earnings per share for the current year.

Institutional Trading of AGCO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of AGCO in the third quarter valued at $52,000. Neo Ivy Capital Management acquired a new stake in shares of AGCO in the third quarter valued at $1,676,000. Coldstream Capital Management Inc. increased its stake in shares of AGCO by 9.3% in the third quarter. Coldstream Capital Management Inc. now owns 3,329 shares of the industrial products company’s stock valued at $324,000 after buying an additional 284 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AGCO by 7.2% in the third quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock valued at $121,121,000 after buying an additional 80,516 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of AGCO by 133.0% in the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock valued at $8,263,000 after buying an additional 48,198 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.