Adecoagro (NYSE:AGRO) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Adecoagro (NYSE:AGRO) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other brokerages also recently commented on AGRO. Weiss Ratings upgraded shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Friday, January 9th. Wall Street Zen lowered shares of Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Citigroup assumed coverage on shares of Adecoagro in a report on Monday, February 16th. They set a “buy” rating for the company. Finally, Truist Financial set a $9.00 price objective on shares of Adecoagro in a research report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $8.50.

Adecoagro Trading Up 1.3%

Shares of AGRO stock opened at $10.34 on Monday. The company has a market capitalization of $1.04 billion, a P/E ratio of 44.97 and a beta of 0.44. The company has a current ratio of 2.80, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $8.80 and its two-hundred day moving average is $8.26. Adecoagro has a twelve month low of $6.89 and a twelve month high of $11.78.

Institutional Investors Weigh In On Adecoagro

Several institutional investors have recently made changes to their positions in AGRO. Sparta 24 Ltd. grew its stake in shares of Adecoagro by 4.8% during the 3rd quarter. Sparta 24 Ltd. now owns 2,200,278 shares of the company’s stock worth $17,250,000 after purchasing an additional 100,000 shares during the period. Invesco Ltd. boosted its holdings in Adecoagro by 86.5% during the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after buying an additional 212,685 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in Adecoagro during the fourth quarter worth about $2,987,000. Ameriprise Financial Inc. grew its position in Adecoagro by 32.3% during the second quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock worth $3,385,000 after buying an additional 90,518 shares during the period. Finally, HRT Financial LP increased its holdings in Adecoagro by 13.4% in the fourth quarter. HRT Financial LP now owns 312,828 shares of the company’s stock valued at $2,480,000 after buying an additional 36,857 shares in the last quarter. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

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.