AGCO (NYSE:AGCO) Price Target Lowered to $135.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered the price target for AGCO from $137.00 to $135.00, while maintaining an "overweight" rating, indicating a potential upside of 26.26% from the stock's last close.
• AGCO's quarterly earnings report reflected an EPS of $1.35, surpassing expectations, despite an 18.8% year-over-year revenue decline.
• The company's Board of Directors has approved a $1.00 billion share repurchase program, allowing the repurchase of up to 12.2% of its shares, signaling confidence in the stock's undervaluation.

AGCO (NYSE:AGCO - Get Free Report) had its target price cut by stock analysts at JPMorgan Chase & Co. from $137.00 to $135.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 26.26% from the stock's previous close.

Several other equities analysts have also recently weighed in on the company. Oppenheimer lifted their price objective on AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group boosted their price target on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Zacks Research raised AGCO from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Morgan Stanley boosted their price target on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised AGCO from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $109.38.

AGCO Price Performance

NYSE AGCO traded down $1.27 during midday trading on Tuesday, hitting $106.92. The company had a trading volume of 166,356 shares, compared to its average volume of 860,910. The company has a market capitalization of $7.98 billion, a PE ratio of 79.87, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $110.15 and a 200-day moving average price of $100.26. AGCO has a twelve month low of $73.79 and a twelve month high of $121.16.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The company's quarterly revenue was down 18.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, analysts anticipate that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the completion of the transaction, the senior vice president owned 16,189 shares of the company's stock, valued at $1,771,076.60. This represents a 38.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AGCO

A number of institutional investors and hedge funds have recently bought and sold shares of AGCO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AGCO by 534.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock worth $271,259,000 after purchasing an additional 2,444,615 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in AGCO by 78.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,955,740 shares of the industrial products company's stock worth $201,755,000 after purchasing an additional 861,377 shares in the last quarter. Norges Bank acquired a new position in AGCO in the 2nd quarter worth about $78,651,000. Price T Rowe Associates Inc. MD grew its position in shares of AGCO by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company's stock valued at $646,648,000 after buying an additional 481,146 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of AGCO by 62.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company's stock valued at $105,129,000 after buying an additional 436,237 shares during the last quarter. Institutional investors and hedge funds 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.

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