AGCO (NYSE:AGCO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its target price for AGCO stock from $135 to $136, suggesting a potential upside of 30.47% from its last closing price.
• AGCO reported a quarterly earnings per share of $1.35, beating analysts' expectations, while also experiencing an 18.8% decline in revenue year-over-year.
• Institutional investors and hedge funds hold 78.80% of AGCO's stock, indicating a strong interest in the company's future performance.

AGCO (NYSE:AGCO - Get Free Report) had its target price increased by stock analysts at JPMorgan Chase & Co. from $135.00 to $136.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 30.47% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Citigroup decreased their price target on shares of AGCO from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, September 23rd. Truist Financial dropped their price objective on shares of AGCO from $143.00 to $142.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. Zacks Research downgraded AGCO from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of AGCO in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $116.38.

AGCO Trading Up 0.5%

Shares of AGCO opened at $104.24 on Tuesday. The company has a market capitalization of $7.78 billion, a P/E ratio of 77.79, a P/E/G ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. AGCO has a one year low of $73.79 and a one year high of $121.16. The stock has a 50-day moving average price of $110.05 and a 200 day moving average price of $102.79.

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. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company earned $2.53 earnings per share. AGCO's quarterly revenue was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Sell-side analysts forecast that AGCO will post 4.2 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the transaction, the senior vice president directly owned 16,189 shares of the company's stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AGCO

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC grew its position in AGCO by 103.6% in the third quarter. Voya Investment Management LLC now owns 14,112 shares of the industrial products company's stock worth $1,511,000 after buying an additional 7,182 shares during the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of AGCO during the 3rd quarter worth $120,000. Oak Thistle LLC acquired a new position in shares of AGCO in the 3rd quarter worth $867,000. GAMMA Investing LLC grew its holdings in shares of AGCO by 8.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,818 shares of the industrial products company's stock worth $195,000 after acquiring an additional 146 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of AGCO by 21.9% during the second quarter. Texas Permanent School Fund Corp now owns 57,911 shares of the industrial products company's stock valued at $5,974,000 after purchasing an additional 10,395 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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