Royal Bank of Canada set a $88.00 price target on AGCO (NYSE:AGCO) in a research report released on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the industrial products company’s stock.
A number of other equities research analysts also recently weighed in on the company. UBS Group raised their price target on AGCO from $65.00 to $75.00 and gave the company a neutral rating in a research report on Tuesday, May 7th. Stifel Nicolaus set a $79.00 price target on AGCO and gave the company a hold rating in a research report on Wednesday. JPMorgan Chase & Co. downgraded AGCO from an overweight rating to a neutral rating and set a $77.00 price target on the stock. in a research report on Wednesday, July 10th. Wells Fargo & Co downgraded AGCO from an outperform rating to a market perform rating and lowered their price target for the company from $90.00 to $80.00 in a research report on Wednesday, July 17th. Finally, Citigroup raised their price target on AGCO from $65.00 to $80.00 and gave the company a neutral rating in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. AGCO currently has a consensus rating of Hold and a consensus target price of $76.86.
NYSE:AGCO opened at $73.18 on Wednesday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.94. AGCO has a 52-week low of $49.50 and a 52-week high of $80.64. The company’s fifty day simple moving average is $76.11. The company has a quick ratio of 0.54, a current ratio of 1.29 and a debt-to-equity ratio of 0.47.
AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.55 billion. AGCO had a return on equity of 12.64% and a net margin of 4.07%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. On average, equities analysts predict that AGCO will post 5.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.87%. AGCO’s dividend payout ratio is currently 16.45%.
In other news, Chairman Martin Richenhagen sold 51,000 shares of AGCO stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.43, for a total value of $3,591,930.00. Following the transaction, the chairman now owns 503,733 shares in the company, valued at $35,477,915.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert B. Crain sold 25,000 shares of AGCO stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total value of $1,821,500.00. Following the completion of the transaction, the senior vice president now owns 81,914 shares in the company, valued at approximately $5,968,254.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,000 shares of company stock worth $12,536,330. Company insiders own 17.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AGCO. Gabelli Funds LLC grew its stake in shares of AGCO by 11.1% in the first quarter. Gabelli Funds LLC now owns 15,000 shares of the industrial products company’s stock worth $1,043,000 after purchasing an additional 1,500 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of AGCO by 128.0% in the first quarter. Riverhead Capital Management LLC now owns 30,305 shares of the industrial products company’s stock worth $2,108,000 after purchasing an additional 17,014 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in shares of AGCO by 173.0% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 138,572 shares of the industrial products company’s stock worth $9,638,000 after purchasing an additional 87,815 shares during the last quarter. DNB Asset Management AS bought a new stake in shares of AGCO in the second quarter worth about $1,606,000. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of AGCO by 4.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 32,935 shares of the industrial products company’s stock worth $2,290,000 after purchasing an additional 1,493 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.
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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