Citigroup Forecasts Strong Price Appreciation for AGCO (NYSE:AGCO) Stock

AGCO (NYSE:AGCO) had its price objective raised by investment analysts at Citigroup from $95.00 to $100.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 1.94% from the stock’s previous close.

AGCO has been the subject of a number of other reports. The Goldman Sachs Group reduced their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Truist Financial boosted their price target on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Oppenheimer dropped their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, AGCO has an average rating of “Hold” and a consensus target price of $113.18.

AGCO Stock Performance

Shares of AGCO stock opened at $98.10 on Monday. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average price of $97.54 and a 200 day moving average price of $96.47. The company has a market cap of $7.32 billion, a P/E ratio of 43.41, a PEG ratio of 0.55 and a beta of 1.24. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the firm earned $3.97 earnings per share. AGCO’s revenue was down 24.8% on a year-over-year basis. Sell-side analysts predict that AGCO will post 7.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AGCO

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of AGCO during the 3rd quarter valued at about $29,000. LRI Investments LLC lifted its position in shares of AGCO by 94.3% during the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after buying an additional 165 shares during the period. Blue Trust Inc. raised its position in AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC raised its position in 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. raised its position in AGCO by 69.0% in the 2nd 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 last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

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.