AGCO (NYSE:AGCO) Downgraded by Robert W. Baird to "Neutral"

AGCO (NYSE:AGCO - Get Free Report) was downgraded by equities researchers at Robert W. Baird from an "outperform" rating to a "neutral" rating in a note issued to investors on Monday, Marketbeat reports. They currently have a $100.00 price target on the industrial products company's stock, down from their previous price target of $116.00. Robert W. Baird's price objective would indicate a potential upside of 3.40% from the stock's current price.

AGCO has been the topic of a number of other research reports. Morgan Stanley started coverage on AGCO in a report on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 price objective on the stock. Truist Financial boosted their target price on AGCO from $109.00 to $118.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Oppenheimer lifted their price objective on AGCO from $108.00 to $109.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Citigroup cut their target price on shares of AGCO from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price target on AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $104.30.

AGCO Price Performance

AGCO stock traded up $5.13 during midday trading on Monday, hitting $96.71. The company's stock had a trading volume of 939,705 shares, compared to its average volume of 796,500. AGCO has a 12 month low of $84.35 and a 12 month high of $125.76. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $7.21 billion, a PE ratio of -17.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The stock's 50-day moving average price is $97.85 and its 200-day moving average price is $96.17.

AGCO (NYSE:AGCO - Get Free Report) last released its earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Analysts anticipate that AGCO will post 4.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AGCO

A number of hedge funds have recently made changes to their positions in the stock. GeoWealth Management LLC bought a new position in AGCO during the fourth quarter worth $27,000. Brooklyn Investment Group purchased a new stake in AGCO in the 3rd quarter valued at about $29,000. Allworth Financial LP grew its position in shares of AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 220 shares during the period. UMB Bank n.a. boosted its position in AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock worth $32,000 after purchasing an additional 154 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of AGCO during the fourth quarter valued at about $33,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.