AGCO (NYSE:AGCO) Stock Price Expected to Rise, Citigroup Analyst Says

AGCO (NYSE:AGCO) had its target price lifted by Citigroup from $95.00 to $98.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the company. Truist Financial boosted their price objective on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Oppenheimer boosted their price objective on AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Morgan Stanley started coverage on AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. JPMorgan Chase & Co. upped their price target on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Finally, StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.60.

AGCO Price Performance

AGCO stock opened at $95.43 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The firm has a market cap of $7.12 billion, a P/E ratio of -16.77, a P/E/G ratio of 1.80 and a beta of 1.24. The business’s fifty day moving average is $98.54 and its two-hundred day moving average is $96.61. AGCO has a 52 week low of $84.35 and a 52 week high of $125.76.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Equities research analysts forecast that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, February 14th. AGCO’s payout ratio is -20.39%.

Hedge Funds Weigh In On AGCO

Several hedge funds have recently added to or reduced their stakes in AGCO. GeoWealth Management LLC bought a new stake in shares of AGCO in the fourth quarter worth about $27,000. Brooklyn Investment Group bought a new stake in shares of AGCO in the third quarter worth about $29,000. Allworth Financial LP increased its holdings in shares of AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 220 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of AGCO during the fourth quarter worth about $33,000. 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.