Agco Corp. (NYSE:AGCO) had its target price reduced by equities research analysts at Deutsche Bank AG from $54.00 to $50.00 in a research report issued on Wednesday. The firm currently has a “hold” rating on the stock. Deutsche Bank AG’s price objective would indicate a potential downside of 3.29% from the company’s current price.
Several other equities research analysts have also commented on the stock. Barclays PLC boosted their price objective on shares of Agco Corp. from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Co. upgraded shares of Agco Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday. Zacks Investment Research downgraded shares of Agco Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Morgan Stanley set a $54.00 target price on shares of Agco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $53.00 target price on shares of Agco Corp. in a research note on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $49.00.
Agco Corp. (NYSE:AGCO) traded up 0.39% during trading on Wednesday, hitting $51.90. 133,868 shares of the stock were exchanged. The stock has a market cap of $4.21 billion, a P/E ratio of 23.33 and a beta of 1.32. The stock has a 50 day moving average of $48.30 and a 200-day moving average of $49.74. Agco Corp. has a 52 week low of $42.40 and a 52 week high of $56.00.
Agco Corp. (NYSE:AGCO) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.92 by $0.10. Agco Corp. had a net margin of 2.58% and a return on equity of 7.72%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Agco Corp.’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts expect that Agco Corp. will post $2.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.01%. Agco Corp.’s dividend payout ratio is currently 23.64%.
A number of hedge funds have recently made changes to their positions in AGCO. Sii Investments Inc. WI purchased a new position in Agco Corp. during the second quarter worth $224,000. Seven Eight Capital LLC purchased a new position in Agco Corp. during the first quarter worth $226,000. Huntington Asset Advisors Inc. purchased a new position in Agco Corp. during the first quarter worth $231,000. Gratus Capital LLC purchased a new position in Agco Corp. during the second quarter worth $240,000. Finally, Boston Advisors LLC purchased a new position in Agco Corp. during the second quarter worth $241,000. 88.67% of the stock is owned by institutional investors and hedge funds.
Agco Corp. Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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