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.
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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