Adecoagro (NYSE:AGRO) Sets New 12-Month High – Here’s Why

Adecoagro S.A. (NYSE:AGRO)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.95 and last traded at $14.4390, with a volume of 167556 shares traded. The stock had previously closed at $14.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AGRO shares. UBS Group lowered their target price on Adecoagro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, December 2nd. Weiss Ratings raised Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Bank of America upgraded Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Friday, January 9th. Truist Financial set a $9.00 price objective on Adecoagro in a research report on Friday, January 9th. Finally, Morgan Stanley upgraded shares of Adecoagro from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $9.50 to $13.00 in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $9.20.

Adecoagro Stock Up 1.7%

The business has a fifty day moving average of $10.00 and a 200 day moving average of $8.65. The company has a quick ratio of 0.82, a current ratio of 1.38 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.41 billion, a P/E ratio of -176.12, a P/E/G ratio of 0.29 and a beta of 0.44.

Adecoagro (NYSE:AGRO) last issued its earnings results on Saturday, February 14th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $432.91 million during the quarter. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. On average, equities research analysts predict that Adecoagro S.A. will post 1.24 EPS for the current year.

Insider Activity at Adecoagro

In related news, CEO Mariano Bosch sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the sale, the chief executive officer owned 897,249 shares of the company’s stock, valued at approximately $13,010,110.50. This trade represents a 10.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in shares of Adecoagro by 48.4% during the first quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after purchasing an additional 28,275 shares during the period. Jane Street Group LLC grew its position in shares of Adecoagro by 20.5% in the 1st quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock valued at $2,112,000 after purchasing an additional 32,169 shares during the period. Quantbot Technologies LP increased its stake in Adecoagro by 113.8% during the 2nd quarter. Quantbot Technologies LP now owns 57,490 shares of the company’s stock worth $525,000 after purchasing an additional 30,602 shares in the last quarter. Invesco Ltd. increased its stake in Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after purchasing an additional 212,685 shares in the last quarter. Finally, Pale Fire Capital SE acquired a new stake in Adecoagro during the 2nd quarter worth approximately $774,000. 45.25% of the stock is owned by institutional investors and hedge funds.

About Adecoagro

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.