AGCO (NYSE:AGCO) Price Target Cut to $105.00 by Analysts at Truist Financial

AGCO (NYSE:AGCO) had its price objective cut by equities researchers at Truist Financial from $125.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 31.24% from the company’s current price.

A number of other brokerages have also recently issued reports on AGCO. JPMorgan Chase & Co. increased their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Citigroup upgraded AGCO from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $98.00 to $90.00 in a research note on Tuesday. Baird R W downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. Finally, UBS Group reduced their target price on shares of AGCO from $100.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.90.

AGCO Price Performance

Shares of NYSE:AGCO traded up $1.75 on Tuesday, hitting $80.01. The company’s stock had a trading volume of 294,922 shares, compared to its average volume of 866,519. The company has a 50-day simple moving average of $96.39 and a 200 day simple moving average of $96.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The company has a market capitalization of $5.97 billion, a PE ratio of -14.07, a PEG ratio of 1.80 and a beta of 1.16. AGCO has a 1 year low of $73.79 and a 1 year high of $125.76.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Sell-side analysts forecast that AGCO will post 4.2 EPS for the current fiscal year.

Institutional Investors Weigh In On AGCO

A number of institutional investors and hedge funds have recently bought and sold shares of AGCO. Verition Fund Management LLC grew its holdings in shares of AGCO by 61.7% during the third quarter. Verition Fund Management LLC now owns 8,297 shares of the industrial products company’s stock worth $812,000 after purchasing an additional 3,167 shares in the last quarter. State Street Corp boosted its stake in AGCO by 4.3% during the 3rd 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 during the last quarter. Orion Portfolio Solutions LLC raised its stake in AGCO by 41.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,715 shares of the industrial products company’s stock valued at $364,000 after buying an additional 1,093 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in AGCO during the third quarter valued at approximately $874,000. Finally, LRI Investments LLC increased its stake in shares of AGCO by 50.0% in the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 170 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Company Profile

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.