Morgan Stanley Initiates Coverage on AGCO (NYSE:AGCO)

Morgan Stanley started coverage on shares of AGCO (NYSE:AGCO) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set an “equal weight” rating and a $101.00 price target on the industrial products company’s stock. Morgan Stanley’s target price would suggest a potential upside of 1.58% from the stock’s current price.

A number of other equities research analysts also recently issued reports on AGCO. Oppenheimer lowered their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Truist Financial increased their price target on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded shares of AGCO from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. The Goldman Sachs Group lowered their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, BMO Capital Markets initiated coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.18.

AGCO Stock Performance

Shares of AGCO stock opened at $99.43 on Tuesday. The firm has a 50-day moving average of $97.54 and a 200-day moving average of $96.83. The company has a market cap of $7.42 billion, a P/E ratio of 44.00, a P/E/G ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO has a one year low of $84.35 and a one year high of $130.26.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.97 EPS. Equities research analysts forecast that AGCO will post 7.34 EPS for the current fiscal year.

Institutional Investors Weigh In On AGCO

Institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in shares of AGCO in the third quarter valued at $29,000. LRI Investments LLC grew its holdings in shares of AGCO by 94.3% in the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 174 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 167 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

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.