AGCO (NYSE:AGCO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.
AGCO has been the topic of several other reports. Citigroup restated a "neutral" rating and set a $110.00 price target on shares of AGCO in a report on Friday, May 30th. JPMorgan Chase & Co. upped their price target on shares of AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a report on Friday. Oppenheimer upped their price objective on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group increased their price target on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley increased their price target on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $106.67.
Check Out Our Latest Research Report on AGCO
AGCO Price Performance
AGCO traded down $1.55 during trading on Friday, reaching $112.75. The stock had a trading volume of 477,979 shares, compared to its average volume of 880,599. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 83.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.21. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. AGCO has a 1-year low of $73.79 and a 1-year high of $121.16. The stock has a 50 day moving average of $105.69 and a two-hundred day moving average of $98.77.
AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $2.64 billion for 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 firm's revenue was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 earnings per share. As a group, equities analysts anticipate that AGCO will post 4.2 EPS for the current fiscal year.
AGCO declared that its Board of Directors has authorized a share repurchase program on Wednesday, July 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
Insider Buying and Selling at AGCO
In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the transaction, the senior vice president directly owned 17,380 shares of the company's stock, valued at $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On AGCO
Hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in shares of AGCO during the first quarter worth $1,212,000. GAMMA Investing LLC lifted its position in AGCO by 66.9% in the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 364 shares in the last quarter. LPL Financial LLC lifted its position in AGCO by 4.9% in the 4th quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company's stock valued at $2,135,000 after acquiring an additional 1,016 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in AGCO by 2.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock valued at $580,000 after acquiring an additional 144 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in AGCO by 9.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company's stock valued at $9,252,000 after acquiring an additional 8,293 shares in the last quarter. 78.80% of the stock is owned by institutional investors.
AGCO Company Profile
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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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