Adecoagro (NYSE:AGRO) Shares Pass Above 200 Day Moving Average - Here's Why

Adecoagro S.A. (NYSE:AGRO - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.47 and traded as high as $11.79. Adecoagro shares last traded at $11.66, with a volume of 468,714 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Adecoagro from an "underweight" rating to a "neutral" rating and raised their target price for the company from $10.50 to $11.50 in a report on Monday, July 1st. StockNews.com lowered shares of Adecoagro from a "buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Bank of America decreased their price target on shares of Adecoagro from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Monday, September 9th. UBS Group began coverage on shares of Adecoagro in a research report on Monday, October 14th. They set a "neutral" rating and a $12.00 price target for the company. Finally, Morgan Stanley downgraded shares of Adecoagro from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $14.50 to $12.50 in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.63.

Adecoagro Stock Performance

The stock has a market cap of $1.20 billion, a PE ratio of 4.90, a PEG ratio of 1.06 and a beta of 1.08. The firm has a 50 day moving average of $11.25 and a two-hundred day moving average of $10.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 0.98.

Adecoagro (NYSE:AGRO - Get Free Report) last released its earnings results on Monday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter. Adecoagro had a return on equity of 14.91% and a net margin of 16.28%. The business had revenue of $411.42 million for the quarter. Research analysts predict that Adecoagro S.A. will post 1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Adecoagro

Large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in shares of Adecoagro by 10.5% in the first quarter. Jennison Associates LLC now owns 5,932,720 shares of the company's stock valued at $65,379,000 after buying an additional 561,352 shares in the last quarter. Boston Partners increased its position in Adecoagro by 410.7% in the 1st quarter. Boston Partners now owns 679,537 shares of the company's stock valued at $7,489,000 after acquiring an additional 546,465 shares during the period. Ping Capital Management Inc. acquired a new position in shares of Adecoagro during the 2nd quarter valued at $1,099,000. Herr Investment Group LLC increased its position in shares of Adecoagro by 30.3% during the 2nd quarter. Herr Investment Group LLC now owns 2,649,555 shares of the company's stock valued at $25,780,000 after purchasing an additional 616,345 shares during the period. Finally, Discovery Capital Management LLC CT grew its holdings in shares of Adecoagro by 39.1% in the 2nd quarter. Discovery Capital Management LLC CT now owns 2,376,614 shares of the company's stock worth $23,124,000 after acquiring an additional 667,878 shares during the last quarter. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.