StockNews.com Upgrades AGCO (NYSE:AGCO) to Hold

AGCO (NYSE:AGCO) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

AGCO has been the subject of several other reports. The Goldman Sachs Group dropped their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Oppenheimer dropped their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective on the stock. Truist Financial boosted their target price on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup increased their price target on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $108.10.

AGCO Price Performance

NYSE:AGCO opened at $93.50 on Thursday. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. AGCO has a 12-month low of $84.35 and a 12-month high of $130.26. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $97.24 and its two-hundred day moving average is $96.02.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm 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 business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.97 EPS. Research analysts expect that AGCO will post 7.36 EPS for the current year.

Institutional Investors Weigh In On AGCO

Institutional investors and hedge funds have recently modified their holdings of the stock. M&T Bank Corp lifted its position in AGCO by 133.0% during 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 in the last quarter. Royal London Asset Management Ltd. raised its stake in shares of AGCO by 2.0% during the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock valued at $61,024,000 after purchasing an additional 12,328 shares during the period. Stratos Wealth Advisors LLC raised its stake in shares of AGCO by 42.3% during the third quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company’s stock valued at $1,670,000 after purchasing an additional 5,069 shares during the period. Crossmark Global Holdings Inc. lifted 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 worth $1,624,000 after purchasing an additional 9,956 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of AGCO by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 454,138 shares of the industrial products company’s stock valued at $44,442,000 after purchasing an additional 13,737 shares during the period. 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.