Citigroup Increases AGCO (NYSE:AGCO) Price Target to $98.00

AGCO (NYSE:AGCO) had its price target upped by research analysts at Citigroup from $95.00 to $98.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 3.28% from the company’s current price.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price target on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Oppenheimer upped their price target on AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Baird R W downgraded AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Truist Financial upped their price target on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.60.

AGCO Stock Performance

Shares of NYSE AGCO opened at $94.89 on Monday. The business’s 50-day moving average price is $98.60 and its two-hundred day moving average price is $96.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. AGCO has a one year low of $84.35 and a one year high of $125.76. The company has a market capitalization of $7.08 billion, a P/E ratio of -16.68, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last issued its earnings results 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 negative net margin of 3.64% and a positive return on equity of 13.40%. Analysts anticipate that AGCO will post 4.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AGCO

Several large investors have recently added to or reduced their stakes in AGCO. Atria Investments Inc acquired a new position in AGCO in the 3rd quarter valued at approximately $372,000. Oppenheimer Asset Management Inc. raised its holdings in AGCO by 8.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,191 shares of the industrial products company’s stock valued at $1,487,000 after acquiring an additional 1,229 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of AGCO by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after purchasing an additional 126 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of AGCO by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 109,493 shares of the industrial products company’s stock valued at $10,715,000 after purchasing an additional 532 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 117 shares during the period. 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.