AGCO (NYSE:AGCO) had its price objective reduced by equities research analysts at Citigroup from $65.00 to $64.00 in a report issued on Friday. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective indicates a potential upside of 12.01% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered AGCO from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. ValuEngine lowered AGCO from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Deutsche Bank set a $79.00 target price on AGCO and gave the company a “buy” rating in a research report on Wednesday, September 5th. OTR Global lowered AGCO to a “$60.18” rating in a research report on Wednesday, July 18th. Finally, JPMorgan Chase & Co. raised AGCO from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $55.00 to $57.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. AGCO currently has a consensus rating of “Hold” and an average target price of $69.85.
Shares of NYSE:AGCO traded down $0.25 during trading on Friday, hitting $57.14. 710,147 shares of the company’s stock traded hands, compared to its average volume of 732,483. AGCO has a 52 week low of $49.50 and a 52 week high of $75.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.42 and a quick ratio of 0.63. The stock has a market capitalization of $4.28 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 0.92 and a beta of 0.70.
AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.08. AGCO had a return on equity of 9.70% and a net margin of 2.49%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the business posted $0.76 EPS. AGCO’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts expect that AGCO will post 3.74 earnings per share for the current year.
Several large investors have recently bought and sold shares of the business. TD Asset Management Inc. increased its position in shares of AGCO by 12.9% during the 3rd quarter. TD Asset Management Inc. now owns 822,788 shares of the industrial products company’s stock worth $50,017,000 after purchasing an additional 93,995 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of AGCO by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,125,516 shares of the industrial products company’s stock worth $190,000,000 after acquiring an additional 280,561 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of AGCO by 7.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 280,347 shares of the industrial products company’s stock worth $17,042,000 after acquiring an additional 18,925 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of AGCO by 82.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 25,508 shares of the industrial products company’s stock worth $1,551,000 after acquiring an additional 11,511 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of AGCO by 3.0% during the 3rd quarter. Arizona State Retirement System now owns 47,190 shares of the industrial products company’s stock worth $2,869,000 after acquiring an additional 1,355 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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