AGCO (NYSE:AGCO) Stock Price Expected to Rise, Truist Financial Analyst Says

AGCO (NYSE:AGCO) had its price target increased by equities research analysts at Truist Financial from $110.00 to $116.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target points to a potential upside of 23.23% from the stock’s previous close.

Several other research analysts also recently commented on AGCO. Citigroup raised their price target on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Oppenheimer decreased their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley initiated coverage on AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $112.18.

AGCO Stock Down 2.8 %

Shares of NYSE AGCO opened at $94.13 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. AGCO has a 12-month low of $84.35 and a 12-month high of $130.26. The firm’s 50-day moving average price is $97.51 and its 200-day moving average price is $96.14. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 41.65, a P/E/G ratio of 0.56 and a beta of 1.24.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the business earned $3.97 earnings per share. The firm’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, equities research analysts anticipate that AGCO will post 7.36 EPS for the current fiscal year.

Institutional Investors Weigh In On AGCO

A number of hedge funds have recently modified their holdings of AGCO. Pacer Advisors Inc. boosted its position in shares of AGCO by 103.5% during the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock worth $153,814,000 after purchasing an additional 799,429 shares during the period. AQR Capital Management LLC boosted its position in AGCO by 53.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after buying an additional 605,509 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of AGCO by 28.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after acquiring an additional 391,591 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares during the period. Finally, Barclays PLC raised its stake in shares of AGCO by 386.8% in the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock valued at $24,389,000 after acquiring an additional 198,014 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.