AGCO (NYSE:AGCO) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently issued reports on AGCO. Oppenheimer reduced their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Citigroup lifted their price target on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, December 9th. The Goldman Sachs Group cut their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Morgan Stanley started coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. Finally, Truist Financial boosted their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, AGCO has an average rating of “Hold” and an average price target of $108.10.

AGCO Stock Performance

Shares of AGCO opened at $90.55 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The firm has a 50-day moving average of $97.37 and a 200-day moving average of $96.10. The company has a market cap of $6.76 billion, a PE ratio of 40.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. AGCO has a one year low of $84.35 and a one year high of $130.26.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned $3.97 earnings per share. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities analysts forecast that AGCO will post 7.36 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. AGCO’s dividend payout ratio is 51.33%.

Institutional Investors Weigh In On AGCO

A number of institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of AGCO during the third quarter worth approximately $29,000. LRI Investments LLC grew its position in AGCO by 94.3% during the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. increased its stake in AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares during the period. Venturi Wealth Management LLC lifted its position in AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.