AGCO (NYSE:AGCO) Upgraded at StockNews.com

AGCO (NYSE:AGCO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price target on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Oppenheimer reduced their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley began coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Finally, Truist Financial lifted their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, AGCO presently has a consensus rating of “Hold” and a consensus price target of $108.10.

AGCO Price Performance

AGCO stock opened at $93.50 on Thursday. The stock’s 50 day moving average is $97.24 and its two-hundred day moving average is $96.02. AGCO has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a market capitalization of $6.98 billion, a PE ratio of 41.37, a P/E/G ratio of 0.56 and a beta of 1.24. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm posted $3.97 EPS. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. Analysts predict that AGCO will post 7.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of AGCO during the third quarter valued at approximately $29,000. LRI Investments LLC raised its stake in AGCO by 94.3% during the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. boosted its position in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 174 shares during the period. Venturi Wealth Management LLC boosted its position in AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 210 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

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.