AGCO Corporation (NYSE:AGCO) Given Average Recommendation of “Hold” by Analysts

Shares of AGCO Corporation (NYSE:AGCO) have been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $105.89.

A number of brokerages have commented on AGCO. Wall Street Zen raised shares of AGCO from a “sell” rating to a “hold” rating in a research report on Tuesday, April 22nd. Morgan Stanley upped their price objective on shares of AGCO from $75.00 to $84.00 and gave the company an “underweight” rating in a research report on Monday, May 12th. The Goldman Sachs Group raised their price target on AGCO from $91.00 to $107.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. UBS Group set a $106.00 price target on AGCO in a research note on Tuesday, April 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $115.00 target price (up previously from $108.00) on shares of AGCO in a report on Tuesday, July 15th.

Insider Buying and Selling

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the sale, the senior vice president owned 17,380 shares in the company, valued at $1,845,408.40. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On AGCO

Institutional investors have recently added to or reduced their stakes in the business. GeoWealth Management LLC bought a new position in shares of AGCO in the 4th quarter worth $27,000. Citizens National Bank Trust Department raised its holdings in AGCO by 400.0% during the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 240 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in AGCO during the 1st quarter valued at $32,000. Geneos Wealth Management Inc. raised its stake in shares of AGCO by 109.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 190 shares during the period. Finally, Quarry LP bought a new stake in shares of AGCO during the 1st quarter valued at $37,000. 78.80% of the stock is owned by institutional investors.

AGCO Stock Performance

Shares of AGCO stock opened at $112.15 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $104.49 and its 200-day simple moving average is $97.79. AGCO has a 52 week low of $73.79 and a 52 week high of $116.25. The firm has a market cap of $8.36 billion, a PE ratio of -14.38, a price-to-earnings-growth ratio of 1.96 and a beta of 1.24.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.38. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.06 billion. AGCO had a negative net margin of 5.40% and a positive return on equity of 10.60%. The firm’s revenue for the quarter was down 30.0% compared to the same quarter last year. During the same period last year, the company earned $2.32 EPS. Equities analysts forecast that AGCO will post 4.2 earnings per share for the current year.

AGCO declared that its Board of Directors has authorized a share repurchase program on Wednesday, July 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, August 15th. AGCO’s payout ratio is currently -14.87%.

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.