Truist Financial Issues Pessimistic Forecast for AGCO (NYSE:AGCO) Stock Price

Key Points

• Truist Financial has lowered its target price for AGCO stock from $143.00 to $142.00 while maintaining a buy rating, suggesting a potential upside of 29.20% from the company's previous close.
• AGCO's stock has recently experienced a slight decline, trading down 0.4% to $109.91 with a market cap of $8.20 billion and a P/E ratio of 82.01.
• The company reported quarterly earnings exceeding expectations, delivering $1.35 per share and revenue of $2.64 billion, despite a year-over-year revenue decline of 18.8%.

AGCO (NYSE:AGCO - Get Free Report) had its target price dropped by equities researchers at Truist Financial from $143.00 to $142.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. Truist Financial's target price points to a potential upside of 29.20% from the company's previous close.

Other research analysts have also issued reports about the company. UBS Group reaffirmed a "neutral" rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Zacks Research lowered AGCO from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Weiss Ratings reissued a "hold (c-)" rating on shares of AGCO in a research report on Saturday, September 27th. JPMorgan Chase & Co. cut their price objective on AGCO from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded AGCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $116.25.

AGCO Trading Down 0.4%

Shares of AGCO traded down $0.48 during trading hours on Wednesday, hitting $109.91. The stock had a trading volume of 76,040 shares, compared to its average volume of 853,303. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. The firm has a market cap of $8.20 billion, a P/E ratio of 82.01, a P/E/G ratio of 1.75 and a beta of 1.23. The company's fifty day simple moving average is $110.57 and its 200 day simple moving average is $102.45. AGCO has a 12-month low of $73.79 and a 12-month high of $121.16.

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

AGCO announced that its board has authorized a share buyback plan on Wednesday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction that occurred on 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 sale, the senior vice president owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.90% of the company's stock.

Institutional Investors Weigh In On AGCO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in AGCO by 951.9% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company's stock worth $29,000 after purchasing an additional 257 shares in the last quarter. Citizens National Bank Trust Department raised its holdings in AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in AGCO during the first quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its holdings in AGCO by 109.2% during the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company's stock worth $34,000 after purchasing an additional 190 shares in the last quarter. Finally, Quarry LP bought a new stake in AGCO during the first quarter worth approximately $37,000. 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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