Citigroup Raises AGCO (NYSE:AGCO) Price Target to $110.00

AGCO (NYSE:AGCO - Get Free Report) had its price target upped by analysts at Citigroup from $90.00 to $110.00 in a note issued to investors on Monday, Marketbeat reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Citigroup's price objective indicates a potential upside of 11.33% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. Robert W. Baird cut shares of AGCO from an "outperform" rating to a "neutral" rating and cut their price target for the company from $116.00 to $100.00 in a report on Monday, March 3rd. Baird R W cut shares of AGCO from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Morgan Stanley downgraded AGCO from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $94.00 to $75.00 in a research note on Wednesday, April 16th. UBS Group set a $106.00 target price on AGCO in a report on Tuesday, April 22nd. Finally, StockNews.com upgraded AGCO from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $101.80.

AGCO Trading Up 4.6 %

Shares of AGCO stock traded up $4.36 during trading hours on Monday, hitting $98.80. The company's stock had a trading volume of 446,229 shares, compared to its average volume of 927,094. The business has a fifty day moving average of $89.40 and a 200 day moving average of $94.72. AGCO has a 1-year low of $73.79 and a 1-year high of $119.71. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $7.37 billion, a PE ratio of -17.36, a P/E/G ratio of 1.80 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.38. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm earned $2.32 EPS. The firm's quarterly revenue was down 30.0% compared to the same quarter last year. As a group, equities analysts forecast that AGCO will post 4.2 EPS for the current year.

Hedge Funds Weigh In On AGCO

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC grew its stake in shares of AGCO by 386.8% in the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock valued at $24,389,000 after purchasing an additional 198,014 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of AGCO during the third quarter worth approximately $52,000. Principal Financial Group Inc. grew its stake in shares of AGCO by 28.2% during the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company's stock valued at $66,959,000 after purchasing an additional 150,656 shares during the last quarter. GAMMA Investing LLC raised its position in AGCO by 174.7% in the 4th quarter. GAMMA Investing LLC now owns 544 shares of the industrial products company's stock worth $51,000 after purchasing an additional 346 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in AGCO during the 4th quarter worth $236,000. Institutional investors and hedge funds own 78.80% of the company's stock.

About AGCO

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.