StockNews.com Upgrades AGCO (NYSE:AGCO) to “Hold”

AGCO (NYSE:AGCO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other research firms also recently weighed in on AGCO. Robert W. Baird cut their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets assumed coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective on the stock. Oppenheimer lowered their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, AGCO presently has an average rating of “Hold” and a consensus target price of $114.40.

AGCO Stock Down 1.6 %

AGCO stock traded down $1.44 during mid-day trading on Tuesday, hitting $90.34. The company’s stock had a trading volume of 1,122,209 shares, compared to its average volume of 776,367. The firm’s 50 day moving average is $95.75 and its 200 day moving average is $98.67. The company has a market cap of $6.74 billion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. 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 52-week low of $84.35 and a 52-week high of $130.26.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share 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 firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the business earned $3.97 earnings per share. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, analysts anticipate that AGCO will post 7.3 earnings per share for the current year.

Hedge Funds Weigh In On AGCO

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Great Valley Advisor Group Inc. raised its position in AGCO by 9.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 33,820 shares of the industrial products company’s stock valued at $3,310,000 after purchasing an additional 2,781 shares during the last quarter. Raymond James Trust N.A. raised its position in AGCO by 48.0% in the 3rd quarter. Raymond James Trust N.A. now owns 8,519 shares of the industrial products company’s stock valued at $834,000 after purchasing an additional 2,763 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in AGCO by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 454,138 shares of the industrial products company’s stock valued at $44,442,000 after purchasing an additional 13,737 shares during the last quarter. Pacer Advisors Inc. raised its position in AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after purchasing an additional 538,955 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock valued at $181,775,000 after purchasing an additional 66,303 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

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.