AGCO (NYSE:AGCO) Coverage Initiated at Raymond James

Raymond James began coverage on shares of AGCO (NYSE:AGCO) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set a “market perform” rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on AGCO. Truist Financial reduced their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Oppenheimer reduced their price objective on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. JPMorgan Chase & Co. lowered their target price on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Citigroup began coverage on AGCO in a research note on Wednesday. They issued a “neutral” rating and a $108.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

AGCO Stock Performance

Shares of AGCO stock opened at $97.88 on Friday. The firm has a 50 day moving average of $108.42 and a two-hundred day moving average of $114.51. The stock has a market capitalization of $7.30 billion, a PE ratio of 6.62, a P/E/G ratio of 0.61 and a beta of 1.31. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. AGCO has a 52 week low of $96.60 and a 52 week high of $140.46.

AGCO (NYSE:AGCO) last released its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the business posted $3.51 earnings per share. AGCO’s revenue was down 12.1% compared to the same quarter last year. On average, research analysts predict that AGCO will post 12.18 EPS for the current fiscal year.

Institutional Trading of AGCO

A number of hedge funds and other institutional investors have recently made changes to their positions in AGCO. Ontario Teachers Pension Plan Board grew its stake in AGCO by 30.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after buying an additional 7,539 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of AGCO during the fourth quarter worth approximately $1,082,000. UBS Group AG increased its holdings in shares of AGCO by 106.8% in the 4th quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after acquiring an additional 99,212 shares during the period. Corient Private Wealth LLC raised its position in AGCO by 176.1% in the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after purchasing an additional 13,952 shares during the last quarter. Finally, Cim LLC acquired a new stake in AGCO during the 4th quarter worth $994,000. Institutional investors and hedge funds 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.