AGCO Co. (NYSE:AGCO) Receives Consensus Recommendation of “Hold” from Brokerages

AGCO Co. (NYSE:AGCO) has been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $108.10.

Several research analysts have recently weighed in on AGCO shares. Oppenheimer dropped their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Citigroup boosted their target price on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Morgan Stanley started coverage on AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price for the company. Finally, Truist Financial upped their price target on AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, December 19th.

Hedge Funds Weigh In On AGCO

Hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in AGCO in the third quarter worth approximately $29,000. Venturi Wealth Management LLC lifted 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. Farther Finance Advisors LLC boosted its holdings in AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 139 shares in the last quarter. LRI Investments LLC increased its position in AGCO by 50.0% during the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after buying an additional 170 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in AGCO by 28.6% during the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Price Performance

NYSE AGCO opened at $92.30 on Friday. The stock has a market capitalization of $6.89 billion, a P/E ratio of 40.84, 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 quick ratio of 0.72 and a current ratio of 1.53. The business’s fifty day moving average is $95.92 and its two-hundred day moving average is $95.32. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26.

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

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. AGCO’s dividend payout ratio is 51.33%.

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.