Adecoagro (NYSE:AGRO) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Adecoagro S.A. (NYSE:AGRO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.20 and traded as high as $9.29. Adecoagro shares last traded at $9.1360, with a volume of 684,991 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on AGRO. Weiss Ratings reissued a “sell (d+)” rating on shares of Adecoagro in a research report on Wednesday, January 21st. JPMorgan Chase & Co. initiated coverage on Adecoagro in a research note on Monday, December 1st. They set an “underweight” rating and a $7.00 target price on the stock. Truist Financial set a $9.00 price target on Adecoagro in a report on Friday, January 9th. Wall Street Zen cut Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Finally, Zacks Research raised Adecoagro from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.50.

Adecoagro Stock Down 2.0%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 2.80. The company has a fifty day simple moving average of $8.56 and a two-hundred day simple moving average of $8.20. The firm has a market capitalization of $914.42 million, a PE ratio of 39.72 and a beta of 0.44.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings results on Monday, December 1st. The company reported $0.00 EPS for the quarter. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%.The firm had revenue of $304.21 million for the quarter. Analysts forecast that Adecoagro S.A. will post 1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Adecoagro

Hedge funds have recently modified their holdings of the business. Orion Porfolio Solutions LLC bought a new position in Adecoagro in the fourth quarter worth approximately $88,000. Quadrature Capital Ltd bought a new stake in Adecoagro during the 4th quarter valued at $123,000. Jeppson Wealth Management LLC purchased a new position in shares of Adecoagro in the 3rd quarter valued at $124,000. State of Wyoming increased its holdings in shares of Adecoagro by 44.9% in the 2nd quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after acquiring an additional 5,334 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Adecoagro in the 4th quarter worth $147,000. Hedge funds and other institutional investors own 45.25% of the company’s stock.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.