AGCO (NYSE:AGCO) Upgraded by StockNews.com to "Hold" Rating

AGCO (NYSE:AGCO - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Friday.

AGCO has been the topic of a number of other reports. Citigroup raised AGCO from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $98.00 to $90.00 in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 15th. Oppenheimer boosted their target price on shares of AGCO from $108.00 to $109.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Truist Financial reduced their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group dropped their price objective on shares of AGCO from $100.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $98.30.

Remove Ads

AGCO Price Performance

AGCO traded down $2.45 on Friday, reaching $81.84. The stock had a trading volume of 52,346 shares, compared to its average volume of 921,157. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -14.40, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16. AGCO has a fifty-two week low of $73.79 and a fifty-two week high of $121.49. The firm has a 50-day moving average of $93.15 and a 200-day moving average of $96.01.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of AGCO by 128.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after buying an additional 3,654,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AGCO by 534.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock worth $271,259,000 after acquiring an additional 2,444,615 shares during the period. Invesco Ltd. boosted its position in AGCO by 68.7% in the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after purchasing an additional 961,081 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in AGCO in the 4th quarter valued at $62,022,000. Finally, Norges Bank purchased a new stake in shares of AGCO during the 4th quarter valued at $57,321,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.