AGCO (NYSE:AGCO) Given New $116.00 Price Target at Truist Financial

AGCO (NYSE:AGCO) had its target price lifted by analysts at Truist Financial from $110.00 to $116.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 24.06% from the company’s previous close.

Several other research analysts have also recently issued reports on AGCO. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a report on Thursday. Oppenheimer dropped their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Citigroup raised their price target on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Finally, Morgan Stanley assumed coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective for the company. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $108.10.

AGCO Stock Up 3.3 %

AGCO stock opened at $93.50 on Thursday. The stock has a market cap of $6.98 billion, a PE ratio of 41.37, a P/E/G ratio of 0.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The stock’s fifty day moving average is $97.24 and its two-hundred day moving average is $96.02. AGCO has a 1-year low of $84.35 and a 1-year high of $130.26.

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

Hedge Funds Weigh In On AGCO

A number of large investors have recently bought and sold shares of AGCO. Brooklyn Investment Group acquired a new stake in shares of AGCO in the 3rd quarter valued at approximately $29,000. LRI Investments LLC raised its position in AGCO by 94.3% in the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. raised its position in AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 174 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other 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.