Truist Financial Forecasts Strong Price Appreciation for AGCO (NYSE:AGCO) Stock

AGCO (NYSE:AGCO) had its price objective upped by Truist Financial from $109.00 to $118.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 21.36% from the stock’s previous close.

AGCO has been the subject of several other reports. Morgan Stanley assumed coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price for the company. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. The Goldman Sachs Group dropped their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Oppenheimer decreased their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $107.40.

AGCO Stock Performance

Shares of NYSE AGCO opened at $97.23 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a 50 day simple moving average of $95.15 and a two-hundred day simple moving average of $94.89. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 0.56 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted 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 1.35% and a return on equity of 15.79%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the firm earned $3.97 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, analysts predict that AGCO will post 7.36 earnings per share for the current year.

Institutional Trading of AGCO

Several hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in AGCO in the third quarter valued at $29,000. Venturi Wealth Management LLC increased its holdings in shares of AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. Farther Finance Advisors LLC raised its position in AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 139 shares during the last quarter. LRI Investments LLC boosted its stake in AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 170 shares during the period. Finally, First Horizon Advisors Inc. grew its position in AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 117 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.