AGCO (NYSE:AGCO) PT Lowered to $135.00

AGCO (NYSE:AGCO) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $150.00 to $135.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 20.74% from the stock’s current price.

Other analysts have also issued research reports about the company. Oppenheimer reduced their target price on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Truist Financial lowered their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, AGCO currently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

AGCO Price Performance

AGCO opened at $111.81 on Friday. AGCO has a fifty-two week low of $105.77 and a fifty-two week high of $140.46. The company has a quick ratio of 0.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $116.61 and its 200 day moving average price is $116.88. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the business earned $3.51 earnings per share. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. As a group, sell-side analysts expect that AGCO will post 12 earnings per share for the current year.

Hedge Funds Weigh In On AGCO

Several large investors have recently bought and sold shares of the stock. Lecap Asset Management Ltd. acquired a new position in shares of AGCO during the fourth quarter valued at about $1,082,000. Vontobel Holding Ltd. raised its stake in AGCO by 6.5% during the fourth quarter. Vontobel Holding Ltd. now owns 106,351 shares of the industrial products company’s stock worth $12,912,000 after acquiring an additional 6,494 shares in the last quarter. Nordea Investment Management AB boosted its position in AGCO by 1.7% in the fourth quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock valued at $7,492,000 after buying an additional 1,036 shares in the last quarter. Vanguard Group Inc. boosted its stake in AGCO by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after purchasing an additional 32,583 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of AGCO by 53.1% in the third quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock valued at $44,333,000 after buying an additional 130,051 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Company Profile

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.