Adecoagro (NYSE:AGRO) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.20 and traded as high as $9.27. Adecoagro shares last traded at $8.9320, with a volume of 338,820 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group lowered their price target on Adecoagro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Adecoagro in a research note on Wednesday, January 21st. Citigroup began coverage on shares of Adecoagro in a report on Monday, February 16th. They issued a “buy” rating for the company. Wall Street Zen downgraded shares of Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Finally, Zacks Research raised shares of Adecoagro from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Adecoagro currently has a consensus rating of “Hold” and a consensus target price of $8.50.

Adecoagro Stock Down 2.9%

The stock has a 50 day moving average price of $8.39 and a 200 day moving average price of $8.20. The stock has a market capitalization of $894.00 million, a price-to-earnings ratio of 38.84 and a beta of 0.45. The company has a quick ratio of 1.56, a current ratio of 2.80 and a debt-to-equity ratio of 0.73.

Adecoagro (NYSE:AGRO) last released its quarterly earnings data on Monday, December 1st. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $304.21 million during the quarter. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%. As a group, analysts forecast that Adecoagro S.A. will post 1.24 EPS for the current year.

Hedge Funds Weigh In On Adecoagro

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