Citigroup Lowers AGCO (NYSE:AGCO) Price Target to $95.00

AGCO (NYSE:AGCO) had its target price reduced by Citigroup from $100.00 to $95.00 in a report released on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

AGCO has been the subject of several other research reports. Oppenheimer reduced their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. Truist Financial raised their price objective on shares of AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group cut their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, AGCO has a consensus rating of “Hold” and an average price target of $107.40.

AGCO Price Performance

Shares of NYSE:AGCO opened at $100.00 on Tuesday. The firm’s 50 day moving average is $95.27 and its two-hundred day moving average is $94.92. The firm has a market capitalization of $7.46 billion, a P/E ratio of 44.25, a PEG ratio of 0.90 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26.

AGCO (NYSE:AGCO) last posted 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). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business earned $3.97 earnings per share. The firm’s revenue was down 24.8% compared to the same quarter last year. Analysts anticipate that AGCO will post 7.34 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.16%. AGCO’s payout ratio is 51.33%.

Institutional Trading of AGCO

Several institutional investors and hedge funds have recently bought and sold shares of AGCO. Brooklyn Investment Group purchased a new position in shares of AGCO in the third quarter worth approximately $29,000. UMB Bank n.a. boosted its stake in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares during the period. Venturi Wealth Management LLC grew its position in AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares in the last quarter. Farther Finance Advisors LLC raised its stake in AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 139 shares during the period. Finally, LRI Investments LLC lifted its holdings in shares of AGCO by 50.0% in the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.