AGCO (NYSE:AGCO) Price Target Cut to $135.00 by Analysts at JPMorgan Chase & Co.

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

A number of other analysts also recently issued reports on AGCO. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Oppenheimer decreased their price target on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Truist Financial dropped their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.83.

AGCO Price Performance

Shares of NYSE AGCO opened at $111.81 on Friday. 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 has a market capitalization of $8.34 billion, a PE ratio of 7.56, a P/E/G ratio of 0.69 and a beta of 1.32. The firm has a fifty day simple moving average of $116.61 and a 200 day simple moving average of $116.88. AGCO has a twelve month low of $105.77 and a twelve month high of $140.46.

AGCO (NYSE:AGCO) last released its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm posted $3.51 earnings per share. The firm’s revenue was down 12.1% on a year-over-year basis. On average, sell-side analysts forecast that AGCO will post 12 EPS for the current year.

Hedge Funds Weigh In On AGCO

Several hedge funds have recently made changes to their positions in AGCO. Lecap Asset Management Ltd. bought a new position in AGCO in the 4th quarter worth about $1,082,000. Vontobel Holding Ltd. grew 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 valued at $12,912,000 after acquiring an additional 6,494 shares in the last quarter. Nordea Investment Management AB lifted its stake in AGCO by 1.7% in the 4th quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after purchasing an additional 1,036 shares in the last quarter. Vanguard Group Inc. boosted its holdings in AGCO by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock valued at $799,047,000 after purchasing an additional 32,583 shares during the period. Finally, Invesco Ltd. increased its holdings 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 worth $44,333,000 after purchasing an additional 130,051 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.