Morgan Stanley Issues Positive Forecast for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO - Get Free Report) had its price target upped by research analysts at Morgan Stanley from $75.00 to $84.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "underweight" rating on the industrial products company's stock. Morgan Stanley's target price indicates a potential downside of 19.98% from the company's current price.

Several other research firms also recently weighed in on AGCO. JPMorgan Chase & Co. upped their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. UBS Group set a $106.00 target price on shares of AGCO in a report on Tuesday, April 22nd. Robert W. Baird cut shares of AGCO from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. Truist Financial decreased their price objective on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Baird R W downgraded AGCO from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned 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 a consensus target price of $102.70.

AGCO Stock Up 5.7%

Shares of AGCO stock traded up $5.64 during trading on Monday, reaching $104.98. 319,471 shares of the company traded hands, compared to its average volume of 891,977. AGCO has a 1-year low of $73.79 and a 1-year high of $119.71. The firm has a market capitalization of $7.83 billion, a PE ratio of -18.40, a P/E/G ratio of 1.80 and a beta of 1.20. The company has a 50 day moving average price of $89.76 and a 200-day moving average price of $94.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.06 billion. During the same quarter last year, the firm posted $2.32 earnings per share. The company's revenue for the quarter was down 30.0% compared to the same quarter last year. As a group, equities research analysts expect that AGCO will post 4.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AGCO. Price T Rowe Associates Inc. MD boosted its holdings in shares of AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after buying an additional 3,654,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AGCO by 534.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock worth $271,259,000 after buying an additional 2,444,615 shares during the last quarter. Invesco Ltd. raised its position in AGCO by 68.7% in the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after acquiring an additional 961,081 shares during the period. Lord Abbett & CO. LLC purchased a new position in AGCO in the fourth quarter valued at about $62,022,000. Finally, Norges Bank bought a new position in shares of AGCO during the 4th quarter valued at approximately $57,321,000. Hedge funds and other institutional investors 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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