#4 - Agco (NYSE:AGCO)
Next on this list of agriculture technology stocks is Agco (NYSE:AGCO) which is another play on agriculture equipment. At one point this year, AGCO was up 28%. It’s since given back those gains and is essentially at a break-even point as of this writing.
The company saw a surge in sales as farmers raced to order equipment to take advantage of rising commodity prices by boosting their production. The company projects this demand will remain solid throughout the year. In fact, it is forecasting $12.3 billion in sales which would be a 10% year-over-year (YOY) increase. The company also has pricing power which is expected to be evident in YOY earnings growth of 11%.
And like many stocks on this list, AGCO has an attractive valuation with a P/E ratio that is currently below 10 (9.93). Analysts give the stock a 27% upside which can help make up for the company’s dividend which is reliable, but not spectacular.
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
- $98.97
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $114.40 (15.6% Upside)
