AGCO (NYSE:AGCO) Price Target Raised to $84.00

by · The Cerbat Gem

AGCO (NYSE:AGCO – Free Report) had its price objective lifted by Morgan Stanley from $75.00 to $84.00 in a research report sent to investors on Monday,Benzinga reports. Morgan Stanley currently has an underweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on the company. 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. boosted their target price on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Truist Financial cut their target price on AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Baird R W cut AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Oppenheimer dropped their price objective on AGCO from $109.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $102.70.

View Our Latest Report on AGCO

AGCO Trading Down 1.2%

NYSE AGCO opened at $104.67 on Monday. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -18.40, a PEG ratio of 1.80 and a beta of 1.20. The stock’s 50 day moving average price is $90.26 and its two-hundred day moving average price is $94.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. AGCO has a 52 week low of $73.79 and a 52 week high of $119.23.

AGCO (NYSE:AGCO – Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.03 by $0.38. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The business’s quarterly revenue was down 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.32 EPS. As a group, analysts anticipate that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 15th. AGCO’s dividend payout ratio is currently -14.87%.

Insider Transactions at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the sale, the senior vice president now owns 17,380 shares in the company, valued at approximately $1,845,408.40. This represents a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On AGCO

Large investors have recently added to or reduced their stakes in the business. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in AGCO in the 4th quarter valued at $3,144,000. Gateway Investment Advisers LLC bought a new stake in AGCO in the 4th quarter valued at $311,000. Olstein Capital Management L.P. raised its stake in AGCO by 20.8% in the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock valued at $1,355,000 after acquiring an additional 2,500 shares during the period. Alberta Investment Management Corp raised its stake in AGCO by 98.5% in the 4th quarter. Alberta Investment Management Corp now owns 49,020 shares of the industrial products company’s stock valued at $4,582,000 after acquiring an additional 24,320 shares during the period. Finally, Barclays PLC raised its stake in AGCO by 386.8% in the 3rd 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 during the period. Institutional investors own 78.80% of the company’s stock.

About AGCO

(Get Free Report)

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.

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