AGCO (NYSE:AGCO) Price Target Cut to $111.00 by Analysts at Oppenheimer

AGCO (NYSE:AGCO) had its target price lowered by stock analysts at Oppenheimer from $131.00 to $111.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target points to a potential upside of 17.93% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Truist Financial upped their price objective on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group cut their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Citigroup boosted their target price on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays cut their price objective on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $114.40.

AGCO Trading Down 0.4 %

NYSE:AGCO opened at $94.12 on Wednesday. AGCO has a 12-month low of $84.35 and a 12-month high of $130.26. The firm has a market cap of $7.03 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $95.67 and a 200 day moving average price of $99.49.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the business posted $3.97 EPS. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. Sell-side analysts anticipate that AGCO will post 7.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Manchester Capital Management LLC raised its holdings in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in AGCO during the 1st quarter worth approximately $30,000. Blue Trust Inc. lifted its position in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 174 shares during the period. Venturi Wealth Management LLC grew its stake in shares of AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 167 shares during the period. 78.80% of the stock is owned by hedge funds and other 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.