AGCO (NYSE:AGCO) Stock Rating Lowered by StockNews.com

AGCO (NYSE:AGCO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on AGCO. Oppenheimer decreased their price target 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 lowered their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Citigroup increased their price objective on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial boosted their target price on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price for the company. One equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $113.18.

AGCO Stock Down 1.9 %

NYSE AGCO opened at $96.75 on Wednesday. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26. 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 company has a market capitalization of $7.22 billion, a P/E ratio of 42.81, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. The stock’s 50-day moving average price is $97.56 and its 200-day moving average price is $96.48.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted $3.97 EPS. On average, equities research analysts predict that AGCO will post 7.36 earnings per share for the current year.

Institutional Investors Weigh In On AGCO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of AGCO in the third quarter valued at $29,000. LRI Investments LLC raised its position in AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 165 shares during the period. Blue Trust Inc. lifted its stake 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 purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after buying an additional 167 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.