Adecoagro (NYSE:AGRO) Shares Gap Up to $11.01

Adecoagro S.A. (NYSE:AGRO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.01, but opened at $11.32. Adecoagro shares last traded at $11.77, with a volume of 139,360 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Adecoagro presently has a consensus rating of “Hold” and a consensus target price of $11.56.

Adecoagro Price Performance

The stock’s fifty day moving average is $10.36 and its 200-day moving average is $10.71. The stock has a market capitalization of $1.24 billion, a PE ratio of 5.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.14 and a quick ratio of 1.20.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.15) earnings per share (EPS) for the quarter. The firm had revenue of $263.95 million for the quarter. Adecoagro had a return on equity of 10.86% and a net margin of 17.42%. As a group, equities analysts predict that Adecoagro S.A. will post 1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adecoagro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its holdings in Adecoagro by 5.0% during the fourth quarter. Jennison Associates LLC now owns 5,371,368 shares of the company’s stock valued at $59,622,000 after purchasing an additional 255,684 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Adecoagro by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 2,943,599 shares of the company’s stock valued at $34,411,000 after purchasing an additional 25,700 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Adecoagro during the second quarter valued at $13,015,000. Helikon Investments Ltd lifted its holdings in Adecoagro by 12.4% during the fourth quarter. Helikon Investments Ltd now owns 1,292,270 shares of the company’s stock valued at $14,344,000 after purchasing an additional 142,595 shares in the last quarter. Finally, abrdn plc lifted its holdings in Adecoagro by 15.6% during the third quarter. abrdn plc now owns 1,005,939 shares of the company’s stock valued at $11,759,000 after purchasing an additional 135,990 shares in the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

Adecoagro Company Profile

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.