ValuEngine upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a report published on Wednesday morning.
Several other equities analysts have also issued reports on AGCO. Zacks Investment Research lowered AGCO from a hold rating to a sell rating in a research note on Tuesday, October 16th. Deutsche Bank set a $79.00 target price on AGCO and gave the company a buy rating in a research note on Wednesday, September 5th. OTR Global downgraded AGCO to a $60.18 rating in a report on Wednesday, July 18th. JPMorgan Chase & Co. downgraded AGCO from a neutral rating to an underweight rating and set a $55.00 price target for the company. in a report on Monday, August 13th. Finally, Jefferies Financial Group reissued a hold rating and issued a $70.00 price target on shares of AGCO in a report on Friday, July 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. AGCO presently has an average rating of Hold and a consensus price target of $69.85.
AGCO opened at $57.14 on Wednesday. AGCO has a 1 year low of $49.50 and a 1 year high of $75.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 1.42. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 0.96 and a beta of 0.78.
AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts predict that AGCO will post 3.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, November 14th. AGCO’s dividend payout ratio is presently 19.87%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in AGCO by 1.6% in the second quarter. BlackRock Inc. now owns 6,648,000 shares of the industrial products company’s stock worth $403,667,000 after acquiring an additional 107,096 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of AGCO by 9.9% during the third quarter. Victory Capital Management Inc. now owns 3,125,516 shares of the industrial products company’s stock worth $190,000,000 after purchasing an additional 280,561 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AGCO by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,679,076 shares of the industrial products company’s stock worth $162,673,000 after purchasing an additional 17,838 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of AGCO by 45.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,018,666 shares of the industrial products company’s stock worth $122,715,000 after purchasing an additional 631,175 shares during the period. Finally, AGF Investments Inc. lifted its holdings in shares of AGCO by 10.7% during the second quarter. AGF Investments Inc. now owns 1,648,127 shares of the industrial products company’s stock worth $100,074,000 after purchasing an additional 159,307 shares during the period. 85.11% 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. 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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