JPMorgan Chase & Co. Increases AGCO (NYSE:AGCO) Price Target to $150.00

AGCO (NYSE:AGCO) had its price target increased by equities researchers at JPMorgan Chase & Co. from $145.00 to $150.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 24.99% from the stock’s current price.

Several other equities analysts have also recently weighed in on AGCO. Stifel Nicolaus dropped their price target on shares of AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a research report on Tuesday, December 19th. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial initiated coverage on shares of AGCO in a research report on Thursday, March 14th. They issued a “buy” rating and a $142.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, AGCO presently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

AGCO Stock Performance

Shares of AGCO stock opened at $120.01 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $115.63 and a two-hundred day moving average price of $117.16. AGCO has a 1-year low of $105.77 and a 1-year high of $140.46. The company has a market cap of $8.96 billion, a P/E ratio of 7.68, a PEG ratio of 0.70 and a beta of 1.31.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $4.03 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.47 earnings per share. As a group, analysts anticipate that AGCO will post 13.08 EPS for the current year.

Institutional Investors Weigh In On AGCO

Several large investors have recently modified their holdings of AGCO. Massachusetts Financial Services Co. MA increased its stake in shares of AGCO by 3,115.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock worth $144,785,000 after purchasing an additional 1,155,440 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of AGCO by 7,297.1% during the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after purchasing an additional 713,142 shares during the last quarter. Millennium Management LLC increased its stake in shares of AGCO by 2,102.6% during the 4th quarter. Millennium Management LLC now owns 725,961 shares of the industrial products company’s stock worth $100,684,000 after purchasing an additional 693,002 shares during the last quarter. Norges Bank purchased a new stake in shares of AGCO during the 4th quarter worth approximately $83,733,000. Finally, Victory Capital Management Inc. increased its stake in shares of AGCO by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock worth $359,852,000 after purchasing an additional 601,877 shares during the last quarter. Hedge funds and other institutional investors 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.