AGCO (NYSE:AGCO) Price Target Lowered to $95.00 at Citigroup

AGCO (NYSE:AGCO - Get Free Report) had its price objective decreased by investment analysts at Citigroup from $100.00 to $95.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. Citigroup's price target would indicate a potential downside of 2.42% from the stock's current price.

Several other analysts have also recently issued reports on AGCO. StockNews.com raised shares of AGCO from a "sell" rating to a "hold" rating in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on AGCO in a report on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 price target for the company. The Goldman Sachs Group reduced their price objective on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Truist Financial lifted their price target on AGCO from $110.00 to $116.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Oppenheimer dropped their price objective on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, AGCO has a consensus rating of "Hold" and a consensus target price of $107.60.

AGCO Price Performance

NYSE:AGCO traded up $0.27 during trading hours on Tuesday, hitting $97.36. 819,257 shares of the stock were exchanged, compared to its average volume of 785,845. The firm's fifty day moving average price is $95.09 and its 200 day moving average price is $94.87. AGCO has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a market cap of $7.27 billion, a P/E ratio of 43.08, a P/E/G ratio of 0.56 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly 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 firm had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm's revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.97 earnings per share. As a group, equities research analysts anticipate that AGCO will post 7.36 EPS for the current fiscal year.

Institutional Investors Weigh In On AGCO

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company's stock valued at $221,187,000 after acquiring an additional 335,092 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company's stock valued at $206,525,000 after purchasing an additional 538,955 shares during the period. State Street Corp grew its holdings in shares of AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company's stock valued at $193,661,000 after purchasing an additional 80,846 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in AGCO by 3.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company's stock worth $181,775,000 after buying an additional 66,303 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in AGCO by 53.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company's stock worth $171,090,000 after buying an additional 605,509 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.