Adecoagro (NYSE:AGRO) Shares Down 4.6% – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) shares fell 4.6% during trading on Monday . The stock traded as low as $9.46 and last traded at $9.5070. Approximately 354,530 shares changed hands during trading, a decline of 68% from the average daily volume of 1,099,247 shares. The stock had previously closed at $9.97.

Wall Street Analyst Weigh In

AGRO has been the subject of several research analyst reports. Citigroup cut shares of Adecoagro from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $13.00 to $15.00 in a research report on Tuesday, April 14th. Weiss Ratings cut Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their target price on Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adecoagro presently has an average rating of “Reduce” and an average price target of $12.12.

Adecoagro Stock Down 4.8%

The firm’s 50 day moving average price is $10.58 and its 200-day moving average price is $11.17. The company has a current ratio of 1.74, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.35 billion, a P/E ratio of 474.39 and a beta of -0.04.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.49). Adecoagro had a negative return on equity of 2.38% and a net margin of 0.95%.The business had revenue of $419.44 million for the quarter, compared to the consensus estimate of $408.94 million. As a group, equities research analysts expect that Adecoagro S.A. will post 1.73 EPS for the current year.

Institutional Trading of Adecoagro

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in shares of Adecoagro by 1,328.8% during the 1st quarter. Bank of America Corp DE now owns 78,542 shares of the company’s stock valued at $1,180,000 after acquiring an additional 73,045 shares during the last quarter. Amundi acquired a new stake in shares of Adecoagro during the first quarter worth $1,436,000. Lazard Asset Management LLC grew its stake in shares of Adecoagro by 4.4% during the first quarter. Lazard Asset Management LLC now owns 197,265 shares of the company’s stock worth $2,963,000 after purchasing an additional 8,341 shares during the period. Hilltop Holdings Inc. bought a new stake in Adecoagro in the first quarter valued at about $407,000. Finally, Hsbc Holdings PLC bought a new stake in Adecoagro in the first quarter valued at about $509,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.