Adecoagro (NYSE:AGRO) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of Adecoagro S.A. (NYSE:AGRO) saw strong trading volume on Wednesday after Morgan Stanley upgraded the stock from an underweight rating to an equal weight rating. Morgan Stanley now has a $13.00 price target on the stock, up from their previous price target of $9.50. 960,410 shares traded hands during trading, an increase of 13% from the previous session’s volume of 848,919 shares.The stock last traded at $13.7140 and had previously closed at $12.45.

Other research analysts have also issued reports about the company. Bank of America upgraded Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Friday, January 9th. UBS Group lowered their target price on shares of Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, December 2nd. Weiss Ratings upgraded shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Wall Street Zen downgraded shares of Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Finally, JPMorgan Chase & Co. began coverage on shares of Adecoagro in a research report on Monday, December 1st. They issued an “underweight” rating and a $7.00 price target on the stock. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Adecoagro has a consensus rating of “Hold” and an average price target of $9.20.

Institutional Trading of Adecoagro

Several large investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC acquired a new stake in shares of Adecoagro in the fourth quarter valued at $88,000. Quadrature Capital Ltd bought a new position in shares of Adecoagro in the fourth quarter valued at about $123,000. Jeppson Wealth Management LLC acquired a new position in Adecoagro during the 3rd quarter worth about $124,000. Virtu Financial LLC acquired a new position in Adecoagro during the 4th quarter worth about $147,000. Finally, State of Wyoming grew its holdings in Adecoagro by 44.9% during the 2nd quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after acquiring an additional 5,334 shares during the last quarter. Institutional investors own 45.25% of the company’s stock.

Adecoagro Trading Up 9.7%

The company has a current ratio of 1.38, a quick ratio of 1.56 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.37 billion, a P/E ratio of -170.63 and a beta of 0.44. The business’s fifty day simple moving average is $9.19 and its 200 day simple moving average is $8.37.

Adecoagro (NYSE:AGRO) last announced its earnings results on Monday, March 16th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Adecoagro had a negative return on equity of 1.17% and a negative net margin of 0.55%.The company had revenue of $415.94 million during the quarter, compared to the consensus estimate of $371.95 million. As a group, analysts expect that Adecoagro S.A. will post 1.24 EPS for the current year.

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.