AGCO (NYSE:AGCO) Rating Lowered to “Sell” at StockNews.com

AGCO (NYSE:AGCO) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other research firms have also recently weighed in on AGCO. Truist Financial boosted their target price on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group lowered their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Robert W. Baird cut their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Citigroup lifted their price objective on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, AGCO has an average rating of “Hold” and a consensus price target of $114.40.

AGCO Trading Down 2.7 %

Shares of AGCO stock opened at $91.79 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO has a 1-year low of $84.35 and a 1-year high of $130.26. The business has a 50-day moving average of $96.11 and a 200 day moving average of $97.93. The stock has a market capitalization of $6.85 billion, a PE ratio of 40.62, a P/E/G ratio of 0.53 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the company earned $3.97 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, sell-side analysts anticipate that AGCO will post 7.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in AGCO in the 3rd quarter worth $29,000. LRI Investments LLC bought a new position in shares of AGCO in the first quarter worth about $30,000. Blue Trust Inc. grew its position in shares of AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares in the last quarter. Venturi Wealth Management LLC raised its stake in AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

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.