Truist Financial Forecasts Strong Price Appreciation for AGCO (NYSE:AGCO) Stock

AGCO (NYSE:AGCO) had its price target lifted by stock analysts at Truist Financial from $109.00 to $118.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would suggest a potential upside of 21.36% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. The Goldman Sachs Group cut their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Oppenheimer decreased their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Citigroup reduced their price objective on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Morgan Stanley started coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price on the stock. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $107.40.

AGCO Price Performance

AGCO stock opened at $97.23 on Thursday. The business has a 50 day simple moving average of $95.15 and a 200-day simple moving average of $94.89. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. 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 stock has a market capitalization of $7.26 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 0.56 and a beta of 1.25.

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

Hedge Funds Weigh In On AGCO

Hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in AGCO during the third quarter worth $29,000. Venturi Wealth Management LLC increased its position in AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after buying an additional 210 shares in the last quarter. Farther Finance Advisors LLC increased its position in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after buying an additional 139 shares in the last quarter. LRI Investments LLC increased its position in AGCO by 50.0% during the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after buying an additional 170 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in AGCO by 28.6% during the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after buying an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Company Profile

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.