AGCO (NYSE:AGCO) Upgraded by StockNews.com to Hold Rating

AGCO (NYSE:AGCO) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Several other research analysts have also commented on AGCO. Citigroup raised shares of AGCO from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $98.00 to $90.00 in a research note on Tuesday. UBS Group decreased their price objective on shares of AGCO from $100.00 to $88.00 and set a “neutral” rating for the company in a report on Monday. Robert W. Baird lowered shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Finally, Truist Financial dropped their price objective on AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, AGCO has an average rating of “Hold” and an average price target of $100.90.

AGCO Stock Performance

NYSE AGCO opened at $84.04 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. AGCO has a 1-year low of $73.79 and a 1-year high of $125.76. The business has a 50 day simple moving average of $94.13 and a two-hundred day simple moving average of $96.24. The stock has a market capitalization of $6.27 billion, a PE ratio of -14.77, a P/E/G ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, research analysts predict that AGCO will post 4.2 EPS for the current fiscal year.

Institutional Trading of AGCO

A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in AGCO by 128.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock valued at $608,026,000 after acquiring an additional 3,654,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AGCO by 534.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock valued at $271,259,000 after purchasing an additional 2,444,615 shares during the last quarter. Invesco Ltd. boosted its position in shares of AGCO by 68.7% in the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after purchasing an additional 961,081 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of AGCO in the 4th quarter worth $62,022,000. Finally, Norges Bank purchased a new position in AGCO during the 4th quarter worth $57,321,000. 78.80% of the stock is currently owned by 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.