AGCO (NYSE:AGCO) Receives "Neutral" Rating from Citigroup

AGCO (NYSE:AGCO - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at Citigroup in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $110.00 price target on the industrial products company's stock. Citigroup's target price would suggest a potential upside of 12.53% from the stock's previous close.

AGCO has been the subject of several other research reports. Morgan Stanley boosted their price target on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. 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 note on Tuesday, May 27th. Oppenheimer cut their price objective on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of AGCO from $110.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.10.

AGCO Trading Down 3.7%

NYSE:AGCO traded down $3.77 on Friday, hitting $97.75. The stock had a trading volume of 1,047,066 shares, compared to its average volume of 894,156. The company has a fifty day moving average price of $92.09 and a two-hundred day moving average price of $95.45. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of -17.18, a PEG ratio of 1.80 and a beta of 1.20. AGCO has a 1-year low of $73.79 and a 1-year high of $108.76. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60.

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

Insiders Place Their Bets

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the sale, the senior vice president now directly owns 17,380 shares of the company's stock, valued at approximately $1,845,408.40. This trade represents a 1.42% 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. 16.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc raised its holdings in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company's stock valued at $212,000 after buying an additional 110 shares during the period. SummerHaven Investment Management LLC increased its stake in AGCO by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 8,241 shares of the industrial products company's stock valued at $763,000 after purchasing an additional 138 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in AGCO by 2.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock valued at $580,000 after purchasing an additional 144 shares during the last quarter. Neuberger Berman Group LLC increased its stake in AGCO by 2.3% during the fourth quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock valued at $612,000 after purchasing an additional 145 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of AGCO by 29.7% during the first quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 149 shares during the period. Hedge funds and other institutional investors 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.