JPMorgan Chase & Co. Forecasts Strong Price Appreciation for AGCO (NYSE:AGCO) Stock

AGCO (NYSE:AGCO) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $102.00 to $111.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.00% from the stock’s previous close.

Several other research analysts have also issued reports on the company. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Citigroup lowered their price objective on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday. Oppenheimer reduced 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. Finally, Morgan Stanley initiated coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target for the company. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $107.40.

AGCO Stock Performance

NYSE:AGCO opened at $100.00 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $95.27 and its 200 day simple moving average is $94.92. The stock has a market cap of $7.46 billion, a P/E ratio of 44.25, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26.

AGCO (NYSE:AGCO) last announced its 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 for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted $3.97 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, research analysts predict that AGCO will post 7.34 EPS for the current year.

Institutional Investors Weigh In On AGCO

Institutional investors have recently made changes to their positions in the company. M&T Bank Corp raised its holdings in AGCO by 133.0% in the 3rd quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after acquiring an additional 48,198 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of AGCO by 2.0% in the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock worth $61,024,000 after purchasing an additional 12,328 shares during the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of AGCO by 42.3% in the third quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company’s stock worth $1,670,000 after purchasing an additional 5,069 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of AGCO by 28.2% during the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock valued at $66,959,000 after purchasing an additional 150,656 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of AGCO by 150.1% during the third quarter. Crossmark Global Holdings Inc. now owns 16,591 shares of the industrial products company’s stock valued at $1,624,000 after buying an additional 9,956 shares during the last quarter. Hedge funds and other institutional investors 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.