AGCO's (AGCO) "Buy" Rating Reaffirmed at Truist Financial

Key Points

• Truist Financial reaffirmed its “Buy” rating on AGCO but lowered its price target from $146 to $136, implying approximately 19.7% upside from the stock’s $113.62 price.
• Analyst sentiment is mixed: AGCO has an average “Hold” rating and a consensus price target of $122.50, with five Buy, seven Hold, and two Sell ratings.
• AGCO’s latest quarterly results beat EPS expectations at $1.05 versus $0.87, though revenue fell 8.6% year over year to $2.26 billion; insiders have also sold approximately $57.5 million of stock over the past 90 days.

AGCO (NYSE:AGCO - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Truist Financial in a report released on Monday, Benzinga reports. They presently have a $136.00 price objective on the industrial products company's stock, down from their previous price objective of $146.00. Truist Financial's price target would suggest a potential upside of 19.69% from the company's current price.

Several other equities analysts also recently commented on AGCO. Robert W. Baird upgraded shares of AGCO from a "neutral" rating to an "outperform" rating and upped their price target for the company from $120.00 to $150.00 in a report on Monday, August 31st. Morgan Stanley lowered their price target on shares of AGCO from $110.00 to $99.00 and set an "underweight" rating for the company in a research report on Tuesday, August 4th. DA Davidson restated a "buy" rating and issued a $151.00 price target on shares of AGCO in a report on Thursday, October 8th. Weiss Ratings downgraded AGCO from a "hold (c+)" rating to a "hold (c-)" rating in a research report on Friday. Finally, UBS Group decreased their price objective on shares of AGCO from $123.00 to $114.00 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, AGCO has an average rating of "Hold" and a consensus target price of $122.50.

AGCO Stock Up 2.4%

AGCO traded up $2.71 during midday trading on Monday, reaching $113.62. The company's stock had a trading volume of 81,910 shares, compared to its average volume of 845,074. The stock's 50-day moving average is $114.05 and its 200-day moving average is $116.29. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 0.84 and a beta of 1.12. AGCO has a 1 year low of $98.22 and a 1 year high of $143.78. The company has a current ratio of 1.32, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Thursday, October 29th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.18. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the previous year, the company earned $1.35 earnings per share. The business's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, research analysts expect that AGCO will post 5.52 EPS for the current year.

Insider Activity at AGCO

In other AGCO news, SVP Kelvin Bennett sold 1,000 shares of AGCO stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $132.89, for a total transaction of $132,890.00. Following the transaction, the senior vice president owned 14,047 shares of the company's stock, valued at $1,866,705.83. The trade was a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eric P. Hansotia sold 2,604 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $129.75, for a total value of $337,869.00. Following the sale, the chief executive officer directly owned 326,939 shares of the company's stock, valued at $42,420,335.25. The trade was a 0.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 497,622 shares of company stock worth $57,461,807 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Institutional Trading of AGCO

A number of institutional investors have recently bought and sold shares of AGCO. GAMMA Investing LLC grew its holdings in AGCO by 5.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,963 shares of the industrial products company's stock valued at $235,000 after buying an additional 94 shares during the last quarter. State of Wyoming lifted its position in AGCO by 8.6% during the third quarter. State of Wyoming now owns 1,622 shares of the industrial products company's stock worth $185,000 after buying an additional 128 shares during the period. EverSource Wealth Advisors LLC boosted its stake in AGCO by 36.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 521 shares of the industrial products company's stock worth $60,000 after buying an additional 138 shares during the last quarter. Cetera Investment Advisers grew its holdings in AGCO by 1.2% in the 1st quarter. Cetera Investment Advisers now owns 13,000 shares of the industrial products company's stock valued at $1,506,000 after buying an additional 155 shares during the period. Finally, Fortitude Family Office LLC increased its stake in shares of AGCO by 234.8% during the 3rd quarter. Fortitude Family Office LLC now owns 231 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

About AGCO

AGCO Corporation NYSE: AGCO is a global manufacturer and distributor of agricultural equipment, technologies and related services. The company serves farmers, agricultural contractors and equipment dealers with products designed for planting, harvesting, crop protection, hay and forage production, and grain handling.

AGCO's product portfolio includes tractors, combines, planters, seeding equipment, sprayers, hay and forage machinery, grain storage and handling systems, replacement parts, and precision agriculture solutions.

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