Adecoagro (NYSE:AGRO) Trading 7.4% Higher on Analyst Upgrade

Shares of Adecoagro S.A. (NYSE:AGRO) were up 7.4% during mid-day trading on Monday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $16.20 price target on the stock, up from their previous price target of $8.00. Adecoagro traded as high as $15.41 and last traded at $15.09. Approximately 730,442 shares changed hands during trading, a decline of 36% from the average daily volume of 1,146,247 shares. The stock had previously closed at $14.05.

Other equities analysts have also issued reports about the company. Bank of America raised Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Friday, January 9th. Truist Financial set a $9.00 price objective on Adecoagro in a research note on Friday, January 9th. Weiss Ratings raised Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Citigroup started coverage on Adecoagro in a research note on Monday, February 16th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. started coverage on Adecoagro in a report on Monday, December 1st. They set an “underweight” rating and a $7.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.84.

Insider Activity at Adecoagro

In other news, CEO Mariano Bosch sold 100,000 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total value of $1,450,000.00. Following the transaction, the chief executive officer owned 897,249 shares of the company’s stock, valued at approximately $13,010,110.50. This represents a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Adecoagro

Institutional investors have recently added to or reduced their stakes in the business. Principal Securities Inc. lifted its stake in shares of Adecoagro by 4.3% in the 4th quarter. Principal Securities Inc. now owns 44,530 shares of the company’s stock valued at $353,000 after acquiring an additional 1,851 shares during the last quarter. Ping Capital Management Inc. boosted its holdings in Adecoagro by 3.1% during the 3rd quarter. Ping Capital Management Inc. now owns 100,000 shares of the company’s stock valued at $784,000 after acquiring an additional 3,000 shares during the period. State of Wyoming grew its position in Adecoagro by 17.8% during the 3rd quarter. State of Wyoming now owns 20,270 shares of the company’s stock worth $159,000 after acquiring an additional 3,067 shares during the last quarter. Quantbot Technologies LP increased its stake in Adecoagro by 7.5% in the 3rd quarter. Quantbot Technologies LP now owns 61,776 shares of the company’s stock worth $484,000 after purchasing an additional 4,286 shares during the period. Finally, R Squared Ltd increased its stake in Adecoagro by 61.1% in the 3rd quarter. R Squared Ltd now owns 22,302 shares of the company’s stock worth $175,000 after purchasing an additional 8,462 shares during the period. 45.25% of the stock is currently owned by institutional investors.

Adecoagro Stock Up 8.7%

The stock has a market cap of $1.53 billion, a P/E ratio of -190.80, a P/E/G ratio of 0.29 and a beta of 0.44. 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 company has a 50-day simple moving average of $10.14 and a two-hundred day simple moving average of $8.71.

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

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.