Truist Financial Cuts AGCO (NYSE:AGCO) Price Target to $137.00

AGCO (NYSE:AGCO) had its price target reduced by equities research analysts at Truist Financial from $142.00 to $137.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 22.53% from the company’s previous close.

Several other research analysts have also issued reports on AGCO. JPMorgan Chase & Co. increased their target price on shares of AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Oppenheimer raised their target price on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, AGCO currently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

AGCO Stock Performance

AGCO stock opened at $111.81 on Friday. The firm has a market cap of $8.34 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32. The company has a current ratio of 1.99, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $116.61 and a 200-day moving average price of $116.88. AGCO has a 1-year low of $105.77 and a 1-year high of $140.46.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The business had revenue of $2.93 billion during 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 firm’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.51 earnings per share. As a group, equities research analysts expect that AGCO will post 12 earnings per share for the current year.

Hedge Funds Weigh In On AGCO

Large investors have recently added to or reduced their stakes in the business. Buck Wealth Strategies LLC purchased a new stake in AGCO in the 1st quarter valued at $1,991,000. Pegasus Asset Management Inc. grew its stake in shares of AGCO by 0.9% in the 1st quarter. Pegasus Asset Management Inc. now owns 29,052 shares of the industrial products company’s stock worth $3,574,000 after acquiring an additional 249 shares in the last quarter. FinTrust Capital Advisors LLC raised its holdings in shares of AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of AGCO by 11.4% during the first quarter. Nordea Investment Management AB now owns 68,850 shares of the industrial products company’s stock valued at $8,426,000 after purchasing an additional 7,022 shares in the last quarter. Finally, Access Investment Management LLC bought a new position in shares of AGCO during the first quarter valued at about $916,000. Institutional investors own 78.80% of the company’s stock.

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.