Oppenheimer Cuts AGCO (NYSE:AGCO) Price Target to $123.00

Key Points

• Oppenheimer has reduced AGCO's price target from $124.00 to $123.00, maintaining an "outperform" rating, indicating a potential upside of 10.79% from the current stock price.
• AGCO reported a quarterly earnings per share (EPS) of $1.35, exceeding expectations and showing a year-over-year revenue decline of 18.8%, prompting analysts to set varied price targets.
• The company has authorized a stock buyback program worth $1.00 billion, reflecting the board's belief that AGCO shares are undervalued.

AGCO (NYSE:AGCO - Free Report) had its price objective reduced by Oppenheimer from $124.00 to $123.00 in a research note issued to investors on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company's stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group boosted their price target on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. UBS Group restated a "neutral" rating and issued a $119.00 target price (up previously from $100.00) on shares of AGCO in a report on Friday, August 8th. Zacks Research raised AGCO from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of AGCO from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AGCO currently has an average rating of "Hold" and an average target price of $110.38.

AGCO Trading Down 0.2%

AGCO stock traded down $0.19 during midday trading on Thursday, hitting $109.47. The stock had a trading volume of 712,686 shares, compared to its average volume of 861,611. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The firm has a market cap of $8.17 billion, a P/E ratio of 81.69, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. The business has a fifty day moving average price of $110.69 and a two-hundred day moving average price of $101.47. AGCO has a 1-year low of $73.79 and a 1-year high of $121.16.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.52 billion. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The company's quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.53 EPS. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. On average, sell-side analysts predict that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. AGCO's dividend payout ratio is currently 86.57%.

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

Insider Activity

In other AGCO 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 completion of the transaction, the senior vice president owned 16,189 shares of the company's stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On AGCO

Large investors have recently modified their holdings of the company. Neuberger Berman Group LLC raised its position in shares of AGCO by 52.7% in the second quarter. Neuberger Berman Group LLC now owns 10,086 shares of the industrial products company's stock worth $1,040,000 after buying an additional 3,483 shares in the last quarter. State of Wyoming bought a new stake in AGCO in the 2nd quarter worth approximately $447,000. FORA Capital LLC purchased a new stake in AGCO in the second quarter worth approximately $397,000. Two Sigma Securities LLC bought a new position in AGCO during the second quarter valued at approximately $874,000. Finally, Tidal Investments LLC raised its stake in shares of AGCO by 14.9% during the second quarter. Tidal Investments LLC now owns 16,074 shares of the industrial products company's stock worth $1,658,000 after acquiring an additional 2,087 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

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.