AGCO (NYSE:AGCO) Price Target Raised to $111.00

AGCO (NYSE:AGCO - Get Free Report) had its target price raised by analysts at JPMorgan Chase & Co. from $102.00 to $111.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 14.16% from the stock's current price.

AGCO has been the subject of several other research reports. Oppenheimer lowered their price target on AGCO from $131.00 to $111.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Morgan Stanley began coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 target price on the stock. The Goldman Sachs Group reduced their price target on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Truist Financial increased their price objective on AGCO from $110.00 to $116.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Finally, Citigroup reduced their price objective on AGCO from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, AGCO currently has an average rating of "Hold" and an average target price of $107.20.

AGCO Stock Down 0.1 %

Shares of NYSE:AGCO traded down $0.08 during trading on Wednesday, hitting $97.23. The stock had a trading volume of 659,105 shares, compared to its average volume of 771,756. The company has a market capitalization of $7.26 billion, a PE ratio of 43.02, a PEG ratio of 0.56 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The firm's fifty day moving average is $95.15 and its 200 day moving average is $94.89. AGCO has a 12 month low of $84.35 and a 12 month 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 analysts' consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm posted $3.97 EPS. The business's quarterly revenue was down 24.8% on a year-over-year basis. Analysts anticipate that AGCO will post 7.36 EPS for the current fiscal year.

Hedge Funds Weigh In On AGCO

Large investors have recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC bought a new stake in shares of AGCO during the second quarter valued at approximately $221,000. Oppenheimer Asset Management Inc. increased its holdings in AGCO by 22.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,962 shares of the industrial products company's stock valued at $1,367,000 after acquiring an additional 2,523 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in AGCO by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 72,836 shares of the industrial products company's stock worth $7,129,000 after purchasing an additional 2,409 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of AGCO by 28.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company's stock valued at $175,323,000 after purchasing an additional 391,591 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company's stock valued at $221,187,000 after purchasing an additional 335,092 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

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.