Oppenheimer Issues Pessimistic Forecast for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO) had its target price dropped by equities research analysts at Oppenheimer from $131.00 to $111.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price would indicate a potential upside of 23.02% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Truist Financial boosted their price objective on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays lowered their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 18th. BMO Capital Markets initiated coverage on AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price on the stock. Finally, Citigroup boosted their target price on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, AGCO currently has an average rating of “Hold” and an average price target of $115.70.

AGCO Trading Down 7.8 %

Shares of AGCO stock opened at $90.23 on Wednesday. The stock has a market capitalization of $6.73 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26. The stock has a 50 day moving average price of $95.52 and a two-hundred day moving average price of $99.57.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the firm earned $3.97 EPS. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. As a group, equities analysts anticipate that AGCO will post 7.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AGCO

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings in shares of AGCO by 103.5% in 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after purchasing an additional 784,617 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of 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 worth $171,090,000 after purchasing an additional 605,509 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of AGCO by 28.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after purchasing an additional 391,591 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after purchasing an additional 335,092 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.