Adecoagro (NYSE:AGRO) Shares Gap Up After Analyst Upgrade

Adecoagro S.A. (NYSE:AGRO)’s share price gapped up before the market opened on Monday after JPMorgan Chase & Co. raised their price target on the stock from $10.00 to $11.50. The stock had previously closed at $10.47, but opened at $11.68. JPMorgan Chase & Co. currently has a neutral rating on the stock. Adecoagro shares last traded at $11.45, with a volume of 491,314 shares trading hands.

AGRO has been the subject of a number of other reports. StockNews.com raised Adecoagro from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 5th. Itau BBA Securities cut shares of Adecoagro from an “outperform” rating to a “market perform” rating and set a $12.00 target price for the company. in a research note on Monday, October 2nd. Finally, Morgan Stanley upgraded Adecoagro from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Adecoagro by 81.2% in the 1st quarter. JPMorgan Chase & Co. now owns 312,044 shares of the company’s stock valued at $3,769,000 after purchasing an additional 139,854 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Adecoagro during the 1st quarter worth $766,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Adecoagro during the 1st quarter valued at $2,106,000. Verition Fund Management LLC acquired a new position in shares of Adecoagro in the 1st quarter valued at $6,060,000. Finally, Wexford Capital LP bought a new position in shares of Adecoagro in the 1st quarter worth $2,210,000. Institutional investors and hedge funds own 43.38% of the company’s stock.

Adecoagro Trading Up 9.6 %

The business has a 50 day moving average of $11.01 and a 200 day moving average of $10.30. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.89 and a quick ratio of 0.76.

Adecoagro (NYSE:AGRO) last posted its earnings results on Thursday, August 17th. The company reported $0.40 earnings per share (EPS) for the quarter. The company had revenue of $402.87 million during the quarter. Adecoagro had a return on equity of 13.93% and a net margin of 10.45%. As a group, research analysts predict that Adecoagro S.A. will post 1.04 earnings per share for the current fiscal year.

Adecoagro Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be paid a $0.165 dividend. This represents a yield of 3.1%. The ex-dividend date is Wednesday, November 8th. This is an increase from Adecoagro’s previous Semi-Annual dividend of $0.16. Adecoagro’s dividend payout ratio is presently 24.09%.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.