AGCO Co. (NYSE:AGCO) – Analysts at Jefferies Financial Group lowered their FY2019 earnings per share estimates for AGCO in a note issued to investors on Monday, October 7th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will post earnings per share of $4.95 for the year, down from their previous forecast of $5.10. Jefferies Financial Group currently has a “Buy” rating and a $90.00 price target on the stock.
Other analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on AGCO from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, July 10th. OTR Global upgraded AGCO to a “positive” rating in a report on Friday, July 12th. Deutsche Bank set a $88.00 price target on AGCO and gave the stock a “buy” rating in a report on Wednesday, July 31st. UBS Group decreased their price target on AGCO from $81.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. upgraded AGCO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $77.00 to $82.00 in a report on Wednesday, September 11th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $79.00.
Shares of NYSE:AGCO opened at $73.85 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29. AGCO has a 1 year low of $49.50 and a 1 year high of $80.64. The stock has a market capitalization of $5.50 billion, a P/E ratio of 18.98, a PEG ratio of 1.00 and a beta of 0.97. The stock has a 50-day simple moving average of $72.54 and a 200-day simple moving average of $72.23.
AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. AGCO had a return on equity of 12.64% and a net margin of 4.07%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the business earned $1.32 EPS. The company’s revenue for the quarter was down 4.5% on a year-over-year basis.
In other AGCO news, VP Richard Robinson Smith sold 4,651 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $72.77, for a total value of $338,453.27. Following the transaction, the vice president now directly owns 90,796 shares of the company’s stock, valued at approximately $6,607,224.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $72.24, for a total value of $722,400.00. Following the completion of the transaction, the chief financial officer now directly owns 138,218 shares in the company, valued at $9,984,868.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,977 shares of company stock valued at $6,483,768. 17.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of AGCO by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,126,409 shares of the industrial products company’s stock valued at $475,226,000 after purchasing an additional 246,730 shares in the last quarter. BlackRock Inc. raised its position in shares of AGCO by 3.1% in the 2nd quarter. BlackRock Inc. now owns 6,076,006 shares of the industrial products company’s stock valued at $471,315,000 after purchasing an additional 181,070 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of AGCO by 5.4% in the 2nd quarter. Victory Capital Management Inc. now owns 3,114,857 shares of the industrial products company’s stock valued at $241,619,000 after purchasing an additional 158,274 shares in the last quarter. LSV Asset Management raised its position in shares of AGCO by 0.9% in the 2nd quarter. LSV Asset Management now owns 2,743,010 shares of the industrial products company’s stock valued at $212,775,000 after purchasing an additional 25,600 shares in the last quarter. Finally, FMR LLC raised its position in shares of AGCO by 29.1% in the 1st quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after purchasing an additional 309,101 shares in the last quarter. 81.33% of the stock is currently owned by institutional investors.
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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