AGCO (NYSE:AGCO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

AGCO (NYSE:AGCO) had its target price boosted by analysts at JPMorgan Chase & Co. from $110.00 to $117.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.79% from the company’s previous close.

A number of other analysts have also issued reports on the company. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, April 22nd. Citigroup raised their price target on shares of AGCO from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 5th. Oppenheimer reduced their price target on shares of AGCO from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley increased their price objective on shares of AGCO from $75.00 to $84.00 and gave the stock an “underweight” rating in a research report on Monday, May 12th. Finally, UBS Group set a $106.00 target price on shares of AGCO in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, AGCO currently has an average rating of “Hold” and an average price target of $103.30.

AGCO Stock Up 2.7%

Shares of NYSE:AGCO opened at $108.54 on Friday. The stock’s 50-day moving average price is $90.54 and its two-hundred day moving average price is $94.88. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO has a 12-month low of $73.79 and a 12-month high of $110.49. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of -19.08, a PEG ratio of 1.80 and a beta of 1.20.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.38. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the company earned $2.32 EPS. The firm’s quarterly revenue was down 30.0% on a year-over-year basis. On average, research analysts forecast that AGCO will post 4.2 EPS for the current year.

Insider Activity

In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the sale, the senior vice president now owns 17,380 shares in the company, valued at $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 16.90% of the company’s stock.

Institutional Trading of AGCO

A number of hedge funds have recently made changes to their positions in AGCO. Barclays PLC grew its position in shares of AGCO by 386.8% during the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock worth $24,389,000 after buying an additional 198,014 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of AGCO by 96.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 24,473 shares of the industrial products company’s stock worth $2,288,000 after buying an additional 12,031 shares in the last quarter. Gateway Investment Advisers LLC acquired a new stake in shares of AGCO during the fourth quarter worth approximately $311,000. UMB Bank n.a. grew its position in shares of AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of AGCO during the fourth quarter worth approximately $245,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.