AGCO (NYSE:AGCO) PT Lowered to $145.00

AGCO (NYSE:AGCO) had its target price cut by investment analysts at Oppenheimer from $154.00 to $145.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target indicates a potential upside of 29.68% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Truist Financial lowered their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. upped their price objective on AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, AGCO presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.83.

AGCO Stock Performance

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

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.51 EPS. On average, research analysts anticipate that AGCO will post 12 earnings per share for the current year.

Hedge Funds Weigh In On AGCO

Hedge funds have recently modified their holdings of the business. Lecap Asset Management Ltd. acquired a new position in AGCO in the 4th quarter valued at about $1,082,000. Vontobel Holding Ltd. boosted its position in shares of AGCO by 6.5% during the 4th quarter. Vontobel Holding Ltd. now owns 106,351 shares of the industrial products company’s stock worth $12,912,000 after purchasing an additional 6,494 shares in the last quarter. Nordea Investment Management AB grew its position in AGCO by 1.7% during the fourth quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after buying an additional 1,036 shares during the period. Vanguard Group Inc. increased its stake 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 in the last quarter. Finally, Invesco Ltd. increased its position 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 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.