#6 - Agco (NYSE:AGCO)
If a picks-and-shovel play on agriculture is more your style, you may be interested in Agco (NYSE:AGCO). From tractors to feed storage system, if you can think of a piece of farming equipment, there’s a high probability that Agco either makes it or makes parts for it.
AGCO stock is down 16% in 2022. However, much of that loss has taken place in the sell-off sparked by the Federal Reserve’s interest rate hikes. The company remains attractively priced with a P/E ratio of just over 9x. The stock receives coverage from at least 24 analysts who have a consensus price target of $139.23, a 42% increase from its level as of September 28, 2022.
Agco is projected to show mid-single-digit growth in both earnings and revenue over the next five years. That should be enough for the company to reward value investors with a dividend that it’s been issuing for over 10 years.
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.
Read More - Current Price
- $98.43
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $114.40 (16.2% Upside)
