Adecoagro (NYSE:AGRO) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Adecoagro shares rose above their 200-day moving average, reaching $11.55 during Monday trading versus the $11.29 average, with about 1.1 million shares traded.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with one Buy, four Hold and two Sell ratings, despite an average price target of $12.12.
• Adecoagro’s latest quarterly results fell short of expectations, reporting $0.13 in EPS versus $0.54 forecast and revenue of $538.5 million versus $602.01 million expected. Institutional investors own 45.25% of the company.

Shares of Adecoagro S.A. (NYSE:AGRO - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.29 and traded as high as $11.55. Adecoagro shares last traded at $11.2660, with a volume of 1,107,055 shares trading hands.

Wall Street Analysts Forecast Growth

AGRO has been the subject of several recent analyst reports. Weiss Ratings cut shares of Adecoagro from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price target on shares of Adecoagro from $7.00 to $10.50 and gave the company an "underweight" rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $12.12.

Adecoagro Stock Up 1.8%

The company has a 50 day moving average price of $9.87 and a two-hundred day moving average price of $11.29. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.73 and a quick ratio of 0.89. The stock has a market cap of $1.61 billion, a PE ratio of 34.14 and a beta of -0.04.

Adecoagro (NYSE:AGRO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.41). Adecoagro had a net margin of 3.03% and a negative return on equity of 0.38%. The business had revenue of $538.50 million for the quarter, compared to the consensus estimate of $602.01 million. Analysts expect that Adecoagro S.A. will post 1.42 EPS for the current year.

Hedge Funds Weigh In On Adecoagro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. grew its stake in shares of Adecoagro by 4.3% in the fourth quarter. Principal Securities Inc. now owns 44,530 shares of the company's stock worth $353,000 after acquiring an additional 1,851 shares during the period. Comprehensive Money Management Services LLC raised its holdings in shares of Adecoagro by 5.0% during the first quarter. Comprehensive Money Management Services LLC now owns 73,733 shares of the company's stock valued at $1,107,000 after purchasing an additional 3,495 shares during the last quarter. Van ECK Associates Corp lifted its position in Adecoagro by 57.9% during the second quarter. Van ECK Associates Corp now owns 12,882 shares of the company's stock valued at $123,000 after purchasing an additional 4,723 shares during the period. State of Wyoming lifted its position in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company's stock valued at $157,000 after purchasing an additional 5,334 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Adecoagro by 4.4% in the first quarter. Lazard Asset Management LLC now owns 197,265 shares of the company's stock worth $2,963,000 after purchasing an additional 8,341 shares during the last quarter. Institutional investors own 45.25% of the company's stock.

Adecoagro Company Profile

Adecoagro NYSE: AGRO is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.

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