AGCO (AGCO) Upgraded by Bank of America to “Neutral”

Bank of America upgraded shares of AGCO (NYSE:AGCO) from an underperform rating to a neutral rating in a research report report published on Monday morning, Marketbeat reports. They currently have $63.00 price objective on the industrial products company’s stock, up from their prior price objective of $58.00.

Several other research analysts also recently weighed in on the stock. William Blair reissued a buy rating on shares of AGCO in a research report on Wednesday, November 21st. UBS Group set a $63.00 price objective on shares of AGCO and gave the company a hold rating in a research report on Wednesday, November 7th. BMO Capital Markets lowered their price objective on shares of AGCO from $75.00 to $65.00 and set a market perform rating on the stock in a research report on Monday, November 5th. Citigroup lowered their price objective on shares of AGCO from $65.00 to $64.00 and set a neutral rating on the stock in a research report on Friday, November 2nd. Finally, Credit Suisse Group lowered their price objective on shares of AGCO from $68.00 to $63.00 and set a neutral rating on the stock in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. AGCO has an average rating of Hold and a consensus price target of $66.92.

AGCO stock opened at $59.27 on Monday. The company has a market capitalization of $4.67 billion, a PE ratio of 19.63, a PEG ratio of 1.01 and a beta of 0.80. The company has a current ratio of 1.42, a quick ratio of 0.63 and a debt-to-equity ratio of 0.57. AGCO has a fifty-two week low of $49.50 and a fifty-two week high of $75.95.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.15 billion. AGCO had a net margin of 2.49% and a return on equity of 9.70%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. On average, equities research analysts predict that AGCO will post 3.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.01%. The ex-dividend date is Wednesday, November 14th. AGCO’s payout ratio is currently 19.87%.

In related news, VP Gary L. Collar sold 2,070 shares of the company’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $56.64, for a total transaction of $117,244.80. Following the completion of the transaction, the vice president now directly owns 84,463 shares in the company, valued at approximately $4,783,984.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.70% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AGCO. Point72 Hong Kong Ltd bought a new stake in shares of AGCO in the 3rd quarter worth about $158,000. Convergence Investment Partners LLC grew its holdings in shares of AGCO by 1,586.6% in the 2nd quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 3,205 shares during the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of AGCO in the 3rd quarter worth about $244,000. Laurion Capital Management LP bought a new stake in shares of AGCO in the 3rd quarter worth about $296,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of AGCO in the 3rd quarter worth about $299,000. Institutional investors own 85.73% of the company’s stock.

About AGCO

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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Analyst Recommendations for AGCO (NYSE:AGCO)

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