StockNews.com cut shares of AGCO (NYSE:AGCO - Free Report) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
Several other equities research analysts also recently commented on the stock. BMO Capital Markets initiated coverage on shares of AGCO in a research report on Friday, August 9th. They issued a "market perform" rating and a $96.00 price target for the company. Robert W. Baird reduced their target price on AGCO from $139.00 to $129.00 and set an "outperform" rating for the company in a report on Wednesday, July 31st. Citigroup lifted their price target on AGCO from $88.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on AGCO from $130.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, July 31st. Finally, Truist Financial upped their target price on AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, AGCO currently has a consensus rating of "Hold" and a consensus price target of $114.40.
Check Out Our Latest Stock Report on AGCO
AGCO Price Performance
Shares of NYSE AGCO traded up $2.07 during trading on Thursday, hitting $101.46. The company had a trading volume of 839,426 shares, compared to its average volume of 788,372. The company has a market cap of $7.57 billion, a P/E ratio of 44.89, a PEG ratio of 0.57 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The business's 50-day moving average is $96.97 and its 200 day moving average is $97.32. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26.
AGCO (NYSE:AGCO - Get Free Report) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.97 earnings per share. Equities research analysts predict that AGCO will post 7.34 earnings per share for the current fiscal year.
AGCO Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.14%. AGCO's dividend payout ratio (DPR) is presently 51.33%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in AGCO during the third quarter valued at approximately $29,000. LRI Investments LLC raised its holdings in AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company's stock worth $33,000 after acquiring an additional 165 shares during the period. Blue Trust Inc. lifted its position in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock worth $34,000 after acquiring an additional 174 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 210 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 167 shares during the last quarter. 78.80% of the stock is owned by institutional investors.
About AGCO
(
Get Free Report)
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.
Further Reading
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