UBS Group Issues Pessimistic Forecast for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO) had its target price reduced by equities research analysts at UBS Group from $100.00 to $88.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price target points to a potential upside of 11.75% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Baird R W cut AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a report on Thursday. Robert W. Baird cut AGCO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their price target 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. Finally, Truist Financial boosted their price objective on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, AGCO presently has a consensus rating of “Hold” and an average target price of $103.00.

AGCO Stock Down 0.7 %

Shares of NYSE AGCO traded down $0.59 during mid-day trading on Monday, reaching $78.75. 813,357 shares of the company’s stock were exchanged, compared to its average volume of 865,997. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $96.97 and a 200 day simple moving average of $96.87. AGCO has a twelve month low of $73.79 and a twelve month high of $125.76. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of -13.84, a PEG ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. As a group, equities analysts expect that AGCO will post 4.2 EPS for the current fiscal year.

Hedge Funds Weigh In On AGCO

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of AGCO by 128.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock worth $608,026,000 after acquiring an additional 3,654,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AGCO by 534.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock valued at $271,259,000 after acquiring an additional 2,444,615 shares during the period. Invesco Ltd. lifted its holdings in AGCO by 68.7% during the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after purchasing an additional 961,081 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in AGCO in the 4th quarter valued at $62,022,000. Finally, Norges Bank bought a new position in AGCO during the 4th quarter worth $57,321,000. 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.